Sorrento Therapeutics (SRNE) Releases Quarterly Earnings Results
Sorrento Therapeutics (NASDAQ:SRNE) posted its quarterly earnings results on Monday. The company reported ($0.33) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.34) by $0.01, Analyst Ratings Network.com reports.
Shares of Sorrento Therapeutics (NASDAQ:SRNE) opened at 5.74 on Monday. Sorrento Therapeutics has a 1-year low of $4.75 and a 1-year high of $16.40. The stock’s 50-day moving average is $5.66 and its 200-day moving average is $8.45. The company’s market cap is $163.8 million.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated an “outperform” rating on shares of Sorrento Therapeutics in a research note on Tuesday, August 12th. They now have a $22.50 price target on the stock. Analysts at MLV & Co
initiated coverage on shares of Sorrento Therapeutics in a research note on Wednesday, June 18th. They set a “buy” rating and a $9.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $20.63.
Sorrento Therapeutics, Inc (NASDAQ:SRNE) is a development stage biopharmaceutical company focused on the discovery, development and commercialization of biotherapeutics for the treatment of a variety of disease conditions, including cancer, inflammation, metabolic and infectious diseases.
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