Lion Biotechnologies Inc Received its Third Buy in a Row

By Ryan Adsit

After Roth Capital and Jefferies assigned a Buy rating to Lion Biotechnologies Inc in the last month, the company received another Buy, this time from Cowen & Co.. Analyst Boris Peaker reiterated a Buy rating on Lion Biotechnologies Inc (NASDAQ: LBIO) today. The company’s shares opened today at $6.10.

Peaker commented:

“LBIO announced the first patient in cohort 2 of LN-144’s study in melanoma has been.”

According to TipRanks.com, Peaker is a 4-star analyst with an average return of 3.7% and a 42.6% success rate. Peaker covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Corvus Pharmaceuticals Inc, and Merrimack Pharmaceuticals.

Currently, the analyst consensus on Lion Biotechnologies Inc is Strong Buy and the average price target is $14, representing a 129.5% upside.

In a report issued on May 17, Jefferies also reiterated a Buy rating on the stock with a $11 price target.

The company has a one year high of $9.58 and a one year low of $5.12. Currently, Lion Biotechnologies Inc has an average volume of 257.3K.

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Lion Biotechnologies, Inc. operates as a biotechnology company which focuses on the development and commercialization of novel cancer immunotherapy. It products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The company services include adoptive cell therapy utilizing tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients’ tumors, for the treatment of metastatic melanoma. Lion Biotechnologies was founded by Robert T. Brooke on September 17, 2007 and is headquartered in San Carlos, CA.