FBR & Co Equities Analysts Decrease Earnings Estimates for Lion Biotechnologies Inc. (LBIO)
Lion Biotechnologies Inc. (NASDAQ:LBIO) – Analysts at FBR & Co decreased their FY2016 earnings estimates for shares of Lion Biotechnologies in a research note issued on Monday. FBR & Co analyst E. White now forecasts that the brokerage will post earnings per share of ($1.84) for the year, down from their prior forecast of ($0.76). FBR & Co also issued estimates for Lion Biotechnologies’ Q4 2016 earnings at ($0.23) EPS and FY2017 earnings at ($1.13) EPS.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Lion Biotechnologies from a “hold” rating to a “sell” rating in a report on Wednesday. Jefferies Group reissued a “buy” rating and set a $13.00 price target on shares of Lion Biotechnologies in a report on Monday. Cowen and Company reissued a “buy” rating on shares of Lion Biotechnologies in a report on Friday, November 4th. Roth Capital reissued a “buy” rating and set a $15.00 price target on shares of Lion Biotechnologies in a report on Friday, August 26th. Finally, Chardan Capital set a $20.00 price target on Lion Biotechnologies and gave the stock a “buy” rating in a report on Sunday, August 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Lion Biotechnologies presently has a consensus rating of “Buy” and an average price target of $18.29.
Lion Biotechnologies (NASDAQ:LBIO) opened at 7.55 on Wednesday. The company’s market cap is $441.19 million. The firm’s 50-day moving average price is $6.95 and its 200-day moving average price is $7.43. Lion Biotechnologies has a one year low of $4.24 and a one year high of $9.58.
In other Lion Biotechnologies news, Director Sanford Hillsberg sold 54,000 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $8.95, for a total value of $483,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.80% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new stake in Lion Biotechnologies during the second quarter worth approximately $327,000. Bank of New York Mellon Corp raised 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 worth $1,488,000 after buying an additional 5,001 shares during the period. Frazier Management LLC bought a new stake in Lion Biotechnologies during the second quarter worth approximately $6,275,000. First Eagle Investment Management LLC bought a new stake in Lion Biotechnologies during the second quarter worth approximately $1,215,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in Lion Biotechnologies during the second quarter worth approximately $178,000. 71.30% of the stock is owned by institutional investors and hedge funds.
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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