Lion Biotechnologies Inc. (LBIO) Trading Down 3.4%
Shares of Lion Biotechnologies Inc. (NASDAQ:LBIO) were down 3.4% during trading on Thursday . The company traded as low as $8.16 and last traded at $8.16, with a volume of 97,631 shares changing hands. The stock had previously closed at $8.45.
A number of analysts have recently commented on LBIO shares. Chardan Capital restated a “buy” rating on shares of Lion Biotechnologies in a report on Saturday, June 4th. FBR & Co restated a “buy” rating on shares of Lion Biotechnologies in a report on Tuesday, May 10th. Zacks Investment Research upgraded shares of Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Wednesday, May 4th. Finally, SunTrust Banks Inc. cut shares of Lion Biotechnologies from a “buy” rating to a “neutral” rating and dropped their target price for the company from $37.00 to $30.50 in a report on Monday, June 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Lion Biotechnologies presently has an average rating of “Buy” and an average target price of $19.50.
The stock’s market cap is $406.38 million. The stock has a 50-day moving average price of $7.22 and a 200 day moving average price of $6.05.
Lion Biotechnologies (NASDAQ:LBIO) last released its earnings results on Monday, May 9th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. On average, equities analysts expect that Lion Biotechnologies Inc. will post ($0.76) 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.