Lion Biotechnologies Inc. (LBIO) Trading 5.9% Higher
Lion Biotechnologies Inc. (NASDAQ:LBIO) traded up 5.9% during mid-day trading on Wednesday . The company traded as high as $8.25 and last traded at $8.24, with a volume of 111,569 shares changing hands. The stock had previously closed at $7.78.
A number of equities research analysts recently issued reports on the stock. Roth Capital restated a “buy” rating and issued a $15.00 target price on shares of Lion Biotechnologies in a report on Saturday, July 9th. 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 3rd. Zacks Investment Research upgraded shares of Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Wednesday, May 4th. Finally, SunTrust Banks Inc. downgraded shares of Lion Biotechnologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $37.00 to $30.50 in a report on Monday, June 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $19.17.
The stock has a 50 day moving average of $7.87 and a 200-day moving average of $6.10. The firm’s market capitalization is $398.13 million.
Lion Biotechnologies (NASDAQ:LBIO) last announced its quarterly earnings data on Monday, May 9th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.02. Analysts predict 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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