Lion Biotechnologies Inc. (NASDAQ:LBIO)’s share price dropped 4.4% during trading on Wednesday . The stock traded as low as $7.94 and last traded at $8.00, with a volume of 212,595 shares changing hands. The stock had previously closed at $8.37.

LBIO has been the subject of several research analyst reports. Roth Capital reiterated a “buy” rating and set a $15.00 target price on shares of Lion Biotechnologies in a research note on Friday, August 26th. FBR & Co reiterated a “buy” rating on shares of Lion Biotechnologies in a research note on Monday, June 6th. Zacks Investment Research upgraded shares of Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research note on Tuesday, June 14th. SunTrust Banks Inc. cut shares of Lion Biotechnologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $37.00 to $30.50 in a research note on Monday, June 6th. Finally, Chardan Capital set a $20.00 price objective on shares of Lion Biotechnologies and gave the company a “buy” rating in a research note on Sunday, August 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Lion Biotechnologies presently has a consensus rating of “Buy” and a consensus price target of $19.17.

The stock’s 50-day moving average price is $8.69 and its 200 day moving average price is $6.74. The firm’s market capitalization is $465.15 million.

Lion Biotechnologies (NASDAQ:LBIO) last released its quarterly earnings data on Monday, August 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.04. On average, equities analysts forecast that Lion Biotechnologies Inc. will post ($0.88) earnings per share for the current year.

In other news, Director Sanford Hillsberg sold 54,000 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $8.95, for a total value of $483,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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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