Shares of Lion Biotechnologies Inc. (NASDAQ:LBIO) traded up 3.3% during mid-day trading on Wednesday . The company traded as high as $8.50 and last traded at $8.48, with a volume of 252,601 shares traded. The stock had previously closed at $8.21.

A number of analysts have issued reports on the company. FBR & Co reissued a “buy” rating on shares of Lion Biotechnologies in a research report on Monday, June 6th. SunTrust Banks Inc. downgraded Lion Biotechnologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $37.00 to $30.50 in a research report on Monday, June 6th. Chardan Capital reissued a “buy” rating on shares of Lion Biotechnologies in a research report on Saturday, June 4th. Roth Capital reissued a “buy” rating and issued a $15.00 target price on shares of Lion Biotechnologies in a research report on Saturday, July 9th. Finally, Zacks Investment Research raised Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $8.50 target price 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 issued a buy rating to the company. Lion Biotechnologies currently has a consensus rating of “Buy” and an average price target of $19.17.

The company has a 50-day moving average price of $8.06 and a 200-day moving average price of $6.16. The company’s market capitalization is $420.46 million.

Lion Biotechnologies (NASDAQ:LBIO) last released its quarterly earnings data on Monday, May 9th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.02. On average, equities research analysts anticipate 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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