Lion Biotechnologies Inc. (LBIO) Receives Consensus Recommendation of “Buy” from Analysts
Lion Biotechnologies Inc. (NASDAQ:LBIO) has been assigned an average recommendation of “Buy” from the seven analysts that are covering the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $21.63.
LBIO has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Lion Biotechnologies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Roth Capital restated a “buy” rating and set a $15.00 target price on shares of Lion Biotechnologies in a research report on Saturday, July 9th. Finally, Chardan Capital set a $20.00 target price on shares of Lion Biotechnologies and gave the stock a “buy” rating in a research report on Sunday, August 21st.
Shares of Lion Biotechnologies (NASDAQ:LBIO) traded up 0.391% during midday trading on Tuesday, hitting $6.425. 75,584 shares of the company’s stock were exchanged. Lion Biotechnologies has a one year low of $4.24 and a one year high of $9.58. The stock’s 50-day moving average price is $7.86 and its 200 day moving average price is $7.37. The firm’s market cap is $375.45 million.
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Lion Biotechnologies (NASDAQ:LBIO) last issued its earnings results on Monday, August 8th. The biotechnology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by $0.04. Equities research analysts forecast that Lion Biotechnologies will post ($0.88) EPS for the current year.
In other Lion Biotechnologies news, Director Sanford Hillsberg sold 54,000 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were 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 SEC, which can be accessed through the SEC website. 11.80% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LBIO. Quantitative Investment Management LLC purchased a new position in Lion Biotechnologies during the second quarter worth about $117,000. Bank of Montreal Can purchased a new position in Lion Biotechnologies during the second quarter worth about $151,000. Quantitative Systematic Strategies LLC purchased a new position in Lion Biotechnologies during the second quarter worth about $178,000. Parametric Portfolio Associates LLC raised its position in Lion Biotechnologies by 163.0% in the second quarter. Parametric Portfolio Associates LLC now owns 38,869 shares of the biotechnology company’s stock worth $315,000 after buying an additional 24,092 shares during the period. Finally, Alliancebernstein L.P. raised its position in Lion Biotechnologies by 253.6% in the second quarter. Alliancebernstein L.P. now owns 39,600 shares of the biotechnology company’s stock worth $321,000 after buying an additional 28,400 shares during the period. Institutional investors own 75.45% of the company’s stock.
Lion Biotechnologies Company Profile
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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