Lion Biotechnologies, Inc. (IOVA) Given a $13.00 Price Target by Oppenheimer Holdings, Inc. Analysts
Lion Biotechnologies, Inc. (NASDAQ:IOVA) has been given a $13.00 target price by stock analysts at Oppenheimer Holdings, Inc. in a report released on Tuesday. The firm currently has a “buy” rating on the biotechnology company’s stock. Oppenheimer Holdings, Inc.’s target price indicates a potential upside of 67.20% from the stock’s current price.
Several other research firms also recently issued reports on IOVA. Zacks Investment Research upgraded shares of Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a research note on Tuesday, October 17th. HC Wainwright set a $16.00 target price on shares of Lion Biotechnologies and gave the company a “buy” rating in a research note on Monday. Jefferies Group LLC restated a “buy” rating on shares of Lion Biotechnologies in a research note on Sunday. Chardan Capital restated a “buy” rating on shares of Lion Biotechnologies in a research note on Thursday, September 7th. Finally, FBR & Co restated a “buy” rating and issued a $17.50 target price on shares of Lion Biotechnologies in a research note on Wednesday, October 25th. Ten research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $14.09.
Shares of Lion Biotechnologies (IOVA) opened at 7.775 on Tuesday. Lion Biotechnologies has a 12-month low of $4.45 and a 12-month high of $8.60. The firm’s market capitalization is $556.12 million. The firm’s 50-day moving average is $7.55 and its 200-day moving average is $6.51.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in shares of Lion Biotechnologies by 2.0% during the third quarter. Victory Capital Management Inc. now owns 2,638,323 shares of the biotechnology company’s stock worth $20,447,000 after purchasing an additional 51,450 shares during the period. Edge Wealth Management LLC bought a new position in shares of Lion Biotechnologies during the third quarter worth about $150,000. Sabby Management LLC bought a new position in shares of Lion Biotechnologies during the second quarter worth about $524,000. Broadfin Capital LLC bought a new position in shares of Lion Biotechnologies during the second quarter worth about $16,731,000. Finally, California State Teachers Retirement System bought a new position in shares of Lion Biotechnologies during the second quarter worth about $688,000. 66.57% of the stock is currently owned by hedge funds and other institutional investors.
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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