Chardan Capital Reiterates “Buy” Rating for Lion Biotechnologies Inc (LBIO)
Lion Biotechnologies Inc (NASDAQ:LBIO)‘s stock had its “buy” rating reissued by Chardan Capital in a research note issued to investors on Wednesday.
Several other analysts also recently weighed in on LBIO. Zacks Investment Research raised shares of Lion Biotechnologies from a “sell” rating to a “hold” rating in a research report on Tuesday, January 17th. Roth Capital reissued a “buy” rating on shares of Lion Biotechnologies in a research report on Wednesday, February 15th. Jefferies Group LLC dropped their target price on shares of Lion Biotechnologies from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, March 8th. FBR & Co set a $17.00 target price on shares of Lion Biotechnologies and gave the stock a “buy” rating in a research report on Wednesday, March 8th. Finally, Wells Fargo & Co started coverage on shares of Lion Biotechnologies in a research report on Friday, March 17th. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $16.29.
Lion Biotechnologies (NASDAQ:LBIO) opened at 5.80 on Wednesday. The company’s market cap is $361.64 million. Lion Biotechnologies has a 12 month low of $5.48 and a 12 month high of $9.58. The company’s 50-day moving average is $6.41 and its 200-day moving average is $6.97.
Lion Biotechnologies (NASDAQ:LBIO) last issued its quarterly earnings data on Monday, May 1st. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by $0.05. On average, equities research analysts expect that Lion Biotechnologies will post ($1.39) EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in Lion Biotechnologies during the second quarter valued at $151,000. Quantitative Systematic Strategies LLC bought a new stake in Lion Biotechnologies during the second quarter valued at $178,000. Bank of New York Mellon Corp increased its stake in Lion Biotechnologies by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 183,631 shares of the biotechnology company’s stock valued at $1,488,000 after buying an additional 5,001 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in Lion Biotechnologies during the second quarter valued at $117,000. Finally, Emerald Acquisition Ltd. bought a new stake in Lion Biotechnologies during the second quarter valued at $327,000. 75.97% of the stock is currently owned by institutional investors.
About Lion Biotechnologies
Lion Biotechnologies, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead program is an adoptive cell therapy utilizing tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients’ tumors, for the treatment of metastatic melanoma.
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