Lion Biotechnologies, Inc. (IOVA) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS
Lion Biotechnologies, Inc. (NASDAQ:IOVA) released its earnings results on Tuesday. The biotechnology company reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.01), Bloomberg Earnings reports.
Lion Biotechnologies (NASDAQ IOVA) traded down 4.502% on Wednesday, reaching $7.425. 582,046 shares of the company’s stock were exchanged. Lion Biotechnologies has a 12 month low of $4.45 and a 12 month high of $8.60. The firm has a 50-day moving average of $7.55 and a 200-day moving average of $6.51. The firm’s market capitalization is $531.09 million.
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Several equities research analysts have recently weighed in on the stock. Oppenheimer Holdings, Inc. set a $13.00 target price on shares of Lion Biotechnologies and gave the stock a “buy” rating in a research report on Tuesday. Chardan Capital reissued a “buy” rating on shares of Lion Biotechnologies in a research report on Thursday, September 7th. B. Riley FBR, Inc. boosted their target price on shares of Lion Biotechnologies from $17.50 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright reissued a “buy” rating and issued a $16.00 target price on shares of Lion Biotechnologies in a research report on Wednesday, August 16th. Finally, FBR & Co reissued a “buy” rating and issued a $17.50 target price on shares of Lion Biotechnologies in a research report on Wednesday, October 25th. Eleven research analysts have rated the stock with a buy rating, Lion Biotechnologies has an average rating of “Buy” and an average price target of $14.53.
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.
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