Equities analysts forecast that Sorrento Therapeutics, Inc. (NASDAQ:SRNE) will post earnings of ($0.23) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Sorrento Therapeutics’ earnings. The highest EPS estimate is ($0.21) and the lowest is ($0.25). Sorrento Therapeutics posted earnings of ($0.19) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 21.1%. The company is scheduled to report its next earnings report on Wednesday, December 6th.

On average, analysts expect that Sorrento Therapeutics will report full year earnings of ($1.10) per share for the current year. For the next fiscal year, analysts forecast that the business will post earnings of ($0.90) per share, with EPS estimates ranging from ($1.06) to ($0.74). Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Sorrento Therapeutics.

Several brokerages have weighed in on SRNE. Oppenheimer set a $7.00 target price on Sorrento Therapeutics and gave the stock a “buy” rating in a research report on Thursday, August 10th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Sorrento Therapeutics in a research report on Thursday, August 24th. Six investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $11.50.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Sorrento Therapeutics by 25.3% in the second quarter. Vanguard Group Inc. now owns 1,930,524 shares of the biopharmaceutical company’s stock worth $3,861,000 after buying an additional 389,258 shares during the period. Intellectus Partners LLC increased its position in Sorrento Therapeutics by 44.7% in the second quarter. Intellectus Partners LLC now owns 1,585,840 shares of the biopharmaceutical company’s stock worth $3,172,000 after buying an additional 490,000 shares during the period. Geode Capital Management LLC increased its position in Sorrento Therapeutics by 3.8% in the first quarter. Geode Capital Management LLC now owns 366,928 shares of the biopharmaceutical company’s stock worth $1,449,000 after buying an additional 13,495 shares during the period. Virtu KCG Holdings LLC increased its position in Sorrento Therapeutics by 497.7% in the second quarter. Virtu KCG Holdings LLC now owns 163,931 shares of the biopharmaceutical company’s stock worth $328,000 after buying an additional 136,506 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in Sorrento Therapeutics in the second quarter worth $306,000. 12.63% of the stock is currently owned by hedge funds and other institutional investors.

Sorrento Therapeutics (NASDAQ:SRNE) traded up $0.05 during mid-day trading on Monday, hitting $2.35. The company had a trading volume of 775,232 shares, compared to its average volume of 830,458. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.18. Sorrento Therapeutics has a twelve month low of $1.50 and a twelve month high of $6.08.

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Sorrento Therapeutics Company Profile

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.

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Earnings History and Estimates for Sorrento Therapeutics (NASDAQ:SRNE)

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