Lion Biotechnologies Inc. (LBIO) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Lion Biotechnologies Inc. (NASDAQ:LBIO) have been given an average recommendation of “Buy” by the seven ratings firms that are covering the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $21.63.
LBIO has been the topic of several recent analyst reports. Roth Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of Lion Biotechnologies in a report on Friday, August 26th. Zacks Investment Research downgraded shares of Lion Biotechnologies from a “hold” rating to a “sell” rating in a report on Tuesday, September 6th. Finally, Chardan Capital set a $20.00 price objective on shares of Lion Biotechnologies and gave the company a “buy” rating in a report on Sunday, August 21st.
Lion Biotechnologies (NASDAQ:LBIO) traded up 0.391% during trading on Tuesday, hitting $6.425. 75,584 shares of the company were exchanged. The stock’s 50-day moving average is $7.86 and its 200-day moving average is $7.37. Lion Biotechnologies has a 12 month low of $4.24 and a 12 month high of $9.58. The company’s market capitalization is $375.45 million.
Lion Biotechnologies (NASDAQ:LBIO) last posted its quarterly earnings data on Monday, August 8th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.04. Equities research analysts anticipate that Lion Biotechnologies will post ($0.88) earnings per share for the current year.
In other news, Director Sanford Hillsberg sold 54,000 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $9.11, for a total value of $491,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.80% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. Quantitative Investment Management LLC acquired a new stake in shares of Lion Biotechnologies during the second quarter worth approximately $117,000. Bank of Montreal Can acquired a new stake in shares of Lion Biotechnologies during the second quarter worth approximately $151,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Lion Biotechnologies during the second quarter worth approximately $178,000. Parametric Portfolio Associates LLC boosted its stake in shares of 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. boosted its stake in shares of 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 and hedge funds own 75.45% of the company’s stock.
About Lion Biotechnologies
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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