Lion Biotechnologies Inc. (LBIO) Sees Large Volume Increase
Lion Biotechnologies Inc. (NASDAQ:LBIO) saw an uptick in trading volume on Friday . 2,042,444 shares traded hands during trading, an increase of 259% from the previous session’s volume of 569,560 shares.The stock last traded at $8.84 and had previously closed at $8.62.
Several research firms have recently commented on LBIO. Roth Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Lion Biotechnologies in a research report on Saturday, July 9th. Chardan Capital reaffirmed a “buy” rating on shares of Lion Biotechnologies in a research report on Saturday, June 4th. FBR & Co reaffirmed a “buy” rating on shares of Lion Biotechnologies in a research report on Tuesday, May 3rd. Zacks Investment Research raised shares of Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Wednesday, May 4th. Finally, SunTrust Banks Inc. lowered shares of Lion Biotechnologies from a “buy” rating to a “neutral” rating and reduced their price target for the company from $37.00 to $30.50 in a research report on Monday, June 6th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $19.17.
The stock has a 50 day moving average of $8.10 and a 200-day moving average of $6.20. The stock’s market capitalization is $429.20 million.
Lion Biotechnologies (NASDAQ:LBIO) last issued its quarterly earnings data on Monday, May 9th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. On average, equities research analysts predict that Lion Biotechnologies Inc. will post ($0.73) earnings per share for the current fiscal 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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