Sorrento Therapeutics, Inc. (NASDAQ:SRNE)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Thursday. They currently have a $20.00 price objective on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. FBR & Co reissued a “buy” rating on shares of Sorrento Therapeutics in a research note on Saturday, June 17th. Oppenheimer Holdings, Inc. set a $7.00 price target on Sorrento Therapeutics and gave the stock a “buy” rating in a research report on Thursday, August 10th. Roth Capital initiated coverage on Sorrento Therapeutics in a research report on Thursday, August 3rd. They set a “buy” rating and a $7.00 price target on the stock. Finally, UBS AG initiated coverage on shares of Sorrento Therapeutics in a report on Thursday, August 3rd. They issued an “outperform” rating and a $7.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $11.67.

Shares of Sorrento Therapeutics (NASDAQ SRNE) traded up 1.41% during trading on Thursday, reaching $1.80. The company’s stock had a trading volume of 720,545 shares. The company has a 50 day moving average of $1.75 and a 200 day moving average of $2.05. Sorrento Therapeutics has a 12-month low of $1.50 and a 12-month high of $7.84. The company’s market cap is $124.15 million.

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Hedge funds have recently modified their holdings of the business. Intellectus Partners LLC lifted its position in shares of Sorrento Therapeutics by 44.7% during the 2nd quarter. Intellectus Partners LLC now owns 1,585,840 shares of the biopharmaceutical company’s stock worth $3,172,000 after purchasing an additional 490,000 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Sorrento Therapeutics during the 2nd quarter worth $306,000. Dimensional Fund Advisors LP lifted its position in shares of Sorrento Therapeutics by 408.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 51,889 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 41,683 shares during the last quarter. Virtu KCG Holdings LLC lifted its position in shares of Sorrento Therapeutics by 497.7% during the 2nd quarter. Virtu KCG Holdings LLC now owns 163,931 shares of the biopharmaceutical company’s stock worth $328,000 after purchasing an additional 136,506 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Sorrento Therapeutics by 25.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,930,524 shares of the biopharmaceutical company’s stock worth $3,861,000 after purchasing an additional 389,258 shares during the last quarter. 16.31% of the stock is owned by institutional investors.

About Sorrento Therapeutics

Sorrento Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in the discovery, acquisition, development and commercialization of drug therapeutics. Its primary therapeutic focus is oncology, including the treatment of chronic cancer pain. It is also developing therapeutic products for other indications, including immunology and infectious diseases.

Analyst Recommendations for Sorrento Therapeutics (NASDAQ:SRNE)

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