Lion Biotechnologies, Inc. (IOVA) Given Average Recommendation of “Buy” by Brokerages
Lion Biotechnologies, Inc. (NASDAQ:IOVA) has received an average rating of “Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $13.40.
A number of research analysts have issued reports on IOVA shares. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Lion Biotechnologies in a report on Thursday, August 31st. Oppenheimer Holdings, Inc. assumed coverage on Lion Biotechnologies in a report on Friday, August 4th. They set an “outperform” rating and a $13.00 price objective for the company. Cowen and Company restated a “buy” rating on shares of Lion Biotechnologies in a research note on Tuesday, June 6th. Jefferies Group LLC restated a “buy” rating and issued a $11.00 target price on shares of Lion Biotechnologies in a research note on Tuesday, September 5th. Finally, Zacks Investment Research lowered Lion Biotechnologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd.
A number of hedge funds have recently made changes to their positions in IOVA. Franklin Resources Inc. acquired a new stake in Lion Biotechnologies in the second quarter worth about $37,844,000. FMR LLC acquired a new stake in Lion Biotechnologies in the second quarter worth about $20,833,000. Victory Capital Management Inc. acquired a new stake in Lion Biotechnologies in the second quarter worth about $19,013,000. Broadfin Capital LLC acquired a new stake in Lion Biotechnologies in the second quarter worth about $16,731,000. Finally, Vanguard Group Inc. acquired a new stake in Lion Biotechnologies in the second quarter worth about $16,113,000. Hedge funds and other institutional investors own 76.00% of the company’s stock.
Lion Biotechnologies (IOVA) opened at 7.70 on Friday. Lion Biotechnologies has a 12 month low of $4.45 and a 12 month high of $8.61. The company has a 50-day moving average of $5.61 and a 200-day moving average of $6.42. The company’s market cap is $482.69 million.
Lion Biotechnologies Company Profile
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.
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