Lion Biotechnologies Inc. (LBIO) Sees Strong Trading Volume
Lion Biotechnologies Inc. (NASDAQ:LBIO) saw strong trading volume on Friday . 2,042,444 shares traded hands during mid-day trading, an increase of 259% from the previous session’s volume of 569,560 shares.The stock last traded at $8.84 and had previously closed at $8.62.
A number of analysts have recently weighed in on the stock. Roth Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Lion Biotechnologies in a research report on Saturday, July 9th. Zacks Investment Research raised shares of Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research report on Tuesday, June 14th. FBR & Co reaffirmed a “buy” rating on shares of Lion Biotechnologies in a research report on Monday, June 6th. SunTrust Banks Inc. downgraded shares of Lion Biotechnologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $37.00 to $30.50 in a research report on Monday, June 6th. Finally, Chardan Capital reaffirmed a “buy” rating on shares of Lion Biotechnologies in a research report on Saturday, June 4th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.17.
The company’s 50 day moving average is $8.10 and its 200 day moving average is $6.20. The stock’s market cap is $429.20 million.
Lion Biotechnologies (NASDAQ:LBIO) last posted its quarterly earnings data on Monday, May 9th. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.02. On average, analysts predict 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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