Lion Biotechnologies Inc. (LBIO) Trading Down 4.9%
Lion Biotechnologies Inc. (NASDAQ:LBIO) shares fell 4.9% during trading on Tuesday . The company traded as low as $8.55 and last traded at $8.59, with a volume of 118,854 shares. The stock had previously closed at $9.03.
A number of research firms recently commented on LBIO. FBR & Co reissued a “buy” rating on shares of Lion Biotechnologies in a report on Monday, June 6th. Chardan Capital reaffirmed a “buy” rating on shares of Lion Biotechnologies in a report on Saturday, June 4th. Zacks Investment Research raised Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Wednesday, May 4th. SunTrust Banks Inc. cut Lion Biotechnologies from a “buy” rating to a “neutral” rating and decreased their price objective 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 price objective 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 assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $19.17.
The company’s market cap is $421.43 million. The firm’s 50-day moving average is $8.14 and its 200-day moving average is $6.23.
Lion Biotechnologies (NASDAQ:LBIO) last posted its earnings results 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 forecast that Lion Biotechnologies Inc. will post ($0.73) earnings per share for the current 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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