Analysts at Oppenheimer Holdings, Inc. began coverage on shares of Lion Biotechnologies, Inc. (NASDAQ:IOVA) in a report issued on Friday. The brokerage set an “outperform” rating and a $13.00 price target on the biotechnology company’s stock. Oppenheimer Holdings, Inc.’s price objective indicates a potential upside of 132.14% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Lion Biotechnologies from a “buy” rating to a “hold” rating in a research note on Thursday. Cowen and Company reaffirmed a “buy” rating on shares of Lion Biotechnologies in a research note on Tuesday, June 6th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Lion Biotechnologies in a research note on Wednesday, June 7th. Chardan Capital reissued a “buy” rating on shares of Lion Biotechnologies in a research note on Wednesday, May 17th. Finally, FBR & Co reissued a “buy” rating on shares of Lion Biotechnologies in a research note on Thursday, May 18th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Lion Biotechnologies currently has an average rating of “Buy” and an average target price of $13.88.

Shares of Lion Biotechnologies (IOVA) traded up 3.70% during midday trading on Friday, hitting $5.60. The company’s stock had a trading volume of 246,833 shares. Lion Biotechnologies has a 12-month low of $4.90 and a 12-month high of $9.58. The firm’s market cap is $351.05 million. The firm has a 50-day moving average of $6.24 and a 200 day moving average of $6.86.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IOVA. Russell Investments Group Ltd. bought a new position in Lion Biotechnologies during the second quarter valued at approximately $380,000. Schwab Charles Investment Management Inc. bought a new position in Lion Biotechnologies during the second quarter valued at approximately $1,538,000. Rhumbline Advisers bought a new position in Lion Biotechnologies during the second quarter valued at approximately $468,000. State of Wisconsin Investment Board bought a new position in Lion Biotechnologies during the second quarter valued at approximately $287,000. Finally, Bank of New York Mellon Corp bought a new position in Lion Biotechnologies during the second quarter valued at approximately $1,796,000. 77.87% of the stock is owned by hedge funds and other institutional investors.

About Lion Biotechnologies

Iovance Biotherapeutics, Inc, formerly 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, which are T cells derived from patients’ tumors, for the treatment of metastatic melanoma.

Analyst Recommendations for Lion Biotechnologies (NASDAQ:IOVA)

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