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Lion Biotechnologies (NASDAQ:LBIO)‘s stock had its “outperform” rating reiterated by Zacks in a research note issued to investors on Wednesday. They currently have a $20.00 price objective on the stock. Zacks‘s price objective indicates a potential upside of 222.58% from the stock’s previous close.

Zacks’ analyst wrote, “LBIO is an emerging biotech company focused on TILs for the treatment of cancer. TILs have demonstrated compelling efficacy and safety profile in metastatic melanoma patients in physician sponsored clinical trials. We are optimistic about the prospect of TILs technology for the treatment of melanoma and other solid tumors. Lion plans to move TILs to pivotal trials soon and also plans to develop second generation of TILs for cheaper and better product. Balance sheet remains strong and valuation is attractive at this time. “

Shares of Lion Biotechnologies (NASDAQ:LBIO) traded up 0.16% on Wednesday, hitting $6.20. The stock had a trading volume of 16,363 shares. Lion Biotechnologies has a one year low of $2.00 and a one year high of $16.00. The stock’s 50-day moving average is $6.99 and its 200-day moving average is $7.75. The company’s market cap is $139.1 million.

Lion Biotechnologies, Inc, formerly Genesis Biopharma, Inc is a development-stage company. The Company is a biotechnology company focused on developing and commercializing adoptive cell therapy using autologous tumor infiltrating lymphocytes for the treatment of stages IV metastatic melanoma and other cancers.

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