Lion Biotechnologies Inc. (NASDAQ:LBIO) shares were up 5.9% during trading on Wednesday . The company traded as high as $8.25 and last traded at $8.24, with a volume of 111,569 shares trading hands. The stock had previously closed at $7.78.

LBIO has been the topic of a number of research analyst reports. FBR & Co reaffirmed a “buy” rating on shares of Lion Biotechnologies in a report on Tuesday, May 3rd. Zacks Investment Research raised Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Wednesday, May 4th. Chardan Capital reaffirmed a “buy” rating on shares of Lion Biotechnologies in a report on Saturday, June 4th. SunTrust Banks Inc. lowered Lion Biotechnologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $37.00 to $30.50 in a report on Monday, June 6th. Finally, Roth Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of Lion Biotechnologies in a report on Saturday, July 9th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $19.17.

The firm’s 50-day moving average price is $7.99 and its 200-day moving average price is $6.13. The company’s market capitalization is $391.33 million.

Lion Biotechnologies (NASDAQ:LBIO) last announced its quarterly earnings results on Monday, May 9th. The biotechnology company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. Equities research analysts expect that Lion Biotechnologies Inc. will post ($0.73) earnings per share 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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