Lion Biotechnologies Inc. (NASDAQ:LBIO) shot up 6.2% during trading on Wednesday . The stock traded as high as $9.24 and last traded at $9.22, with a volume of 371,325 shares. The stock had previously closed at $8.68.

Several research firms recently commented on LBIO. FBR & Co reissued a “buy” rating on shares of Lion Biotechnologies in a research note on Monday, June 6th. Chardan Capital reissued a “buy” rating on shares of Lion Biotechnologies in a research note on Saturday, June 4th. Zacks Investment Research raised shares of Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Wednesday, May 4th. SunTrust Banks Inc. downgraded shares of Lion Biotechnologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $37.00 to $30.50 in a research note on Monday, June 6th. Finally, Roth Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Lion Biotechnologies in a research note 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. Lion Biotechnologies has an average rating of “Buy” and an average price target of $19.17.

The company’s market cap is $447.65 million. The firm’s 50-day moving average price is $8.23 and its 200 day moving average price is $6.27.

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