Lion Biotechnologies, Inc. (NASDAQ:IOVA)‘s stock had its “buy” rating reaffirmed by investment analysts at Oppenheimer Holdings, Inc. in a research note issued on Monday. They presently have a $13.00 price objective on the biotechnology company’s stock. Oppenheimer Holdings, Inc.’s target price suggests a potential upside of 61.49% from the stock’s current price.
Other equities research analysts have also issued reports about the stock. Chardan Capital reiterated a “buy” rating on shares of Lion Biotechnologies in a research note on Thursday, September 7th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Lion Biotechnologies in a research note on Wednesday, August 16th. Zacks Investment Research upgraded shares of Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research note on Tuesday, October 17th. B. Riley boosted their price objective on shares of Lion Biotechnologies from $17.50 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Finally, Cowen and Company restated a “buy” rating on shares of Lion Biotechnologies in a research note on Wednesday, August 16th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $14.53.
Shares of Lion Biotechnologies (NASDAQ IOVA) traded up $0.20 during midday trading on Monday, hitting $8.05. 517,300 shares of the stock were exchanged, compared to its average volume of 363,658. Lion Biotechnologies has a 52 week low of $4.45 and a 52 week high of $8.60.
Lion Biotechnologies (NASDAQ:IOVA) last announced its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). research analysts anticipate that Lion Biotechnologies will post -1.37 EPS for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in IOVA. Legal & General Group Plc bought a new stake in Lion Biotechnologies in the 2nd quarter valued at about $103,000. Parametric Portfolio Associates LLC bought a new stake in Lion Biotechnologies in the 2nd quarter valued at about $125,000. Dynamic Technology Lab Private Ltd bought a new stake in Lion Biotechnologies in the 3rd quarter valued at about $133,000. People s United Financial Inc. bought a new stake in Lion Biotechnologies in the 2nd quarter valued at about $143,000. Finally, Edge Wealth Management LLC bought a new stake in Lion Biotechnologies in the 3rd quarter valued at about $150,000. Institutional investors and hedge funds own 65.76% of the company’s stock.
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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