Lion Biotechnologies, Inc. (IOVA) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Lion Biotechnologies, Inc. (NASDAQ:IOVA) from a hold rating to a buy rating in a report released on Tuesday, October 17th. Zacks Investment Research currently has $8.25 target price on the biotechnology company’s stock.

According to Zacks, “Iovance Biotherapeutics, Inc. is a biopharmaceutical company. It 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. Iovance Biotherapeutics Inc., formerly known as Lion Biotechnologies Inc., is based in SAN CARLOS, United States. “

IOVA has been the subject of a number of other reports. Oppenheimer Holdings, Inc. set a $13.00 target price on shares of Lion Biotechnologies and gave the company a buy rating in a report on Monday, September 11th. HC Wainwright reiterated a buy rating and set a $16.00 price objective on shares of Lion Biotechnologies in a research note on Wednesday, August 16th. Chardan Capital restated a buy rating and issued a $20.00 target price on shares of Lion Biotechnologies in a research note on Friday, September 1st. Cowen and Company restated a buy rating on shares of Lion Biotechnologies in a research note on Wednesday, August 16th. Finally, 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. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $14.53.

Shares of Lion Biotechnologies (IOVA) traded down $0.25 on Tuesday, reaching $7.55. 97,950 shares of the company’s stock were exchanged, compared to its average volume of 436,973. Lion Biotechnologies has a one year low of $4.45 and a one year high of $8.60.

Lion Biotechnologies (NASDAQ:IOVA) last posted its quarterly earnings data 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). equities analysts expect that Lion Biotechnologies will post -1.38 EPS for the current year.

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Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in shares of Lion Biotechnologies during the second quarter worth about $103,000. Parametric Portfolio Associates LLC bought a new position in Lion Biotechnologies in the 2nd quarter valued at about $125,000. People s United Financial Inc. bought a new position in Lion Biotechnologies in the 2nd quarter valued at about $143,000. Edge Wealth Management LLC bought a new position in Lion Biotechnologies in the 3rd quarter valued at about $150,000. Finally, Voya Investment Management LLC bought a new position in Lion Biotechnologies in the 2nd quarter valued at about $208,000. Institutional investors and hedge funds own 66.64% of the company’s stock.

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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Analyst Recommendations for Lion Biotechnologies (NASDAQ:IOVA)

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