Shares of Lion Biotechnologies Inc. (NASDAQ:LBIO) fell 3.4% during trading on Wednesday . The company traded as low as $8.28 and last traded at $8.44, with a volume of 286,372 shares changing hands. The stock had previously closed at $8.74.

A number of research firms have recently commented on LBIO. FBR & Co restated a “buy” rating on shares of Lion Biotechnologies in a research report on Monday, June 6th. SunTrust Banks Inc. cut Lion Biotechnologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $37.00 to $30.50 in a research report on Monday, June 6th. Chardan Capital reiterated a “buy” rating on shares of Lion Biotechnologies in a research report on Saturday, June 4th. Roth Capital reiterated a “buy” rating and set a $15.00 price target on shares of Lion Biotechnologies in a research report on Saturday. Finally, Zacks Investment Research upgraded Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Lion Biotechnologies currently has a consensus rating of “Buy” and a consensus price target of $19.17.

The firm has a 50-day moving average price of $7.59 and a 200-day moving average price of $6.07. The company’s market cap is $404.92 million.

Lion Biotechnologies (NASDAQ:LBIO) last posted its quarterly earnings data on Monday, May 9th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. On average, equities research analysts forecast that Lion Biotechnologies Inc. will post ($0.73) EPS for the current fiscal year.

Lion Biotechnologies, Inc is a clinical-stage biotechnology company. The Company is focused on developing and commercializing cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead pipeline candidate, LN-144, is an adoptive cell therapy using tumor-infiltrating lymphocytes (TIL) to treat patients with refractory metastatic melanoma.

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