$4.23 Million in Sales Expected for Sorrento Therapeutics Inc (SRNE) This Quarter
Equities analysts forecast that Sorrento Therapeutics Inc (NASDAQ:SRNE) will report $4.23 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Sorrento Therapeutics’ earnings. The highest sales estimate is $4.46 million and the lowest is $4.00 million. Sorrento Therapeutics reported sales of $2.24 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 88.8%. The business is scheduled to issue its next quarterly earnings report on Wednesday, December 6th.
On average, analysts expect that Sorrento Therapeutics will report full year sales of $4.23 million for the current year, with estimates ranging from $17.64 million to $151.40 million. For the next year, analysts forecast that the firm will report sales of $23.30 million per share, with estimates ranging from $23.20 million to $23.40 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Sorrento Therapeutics.
SRNE has been the subject of a number of recent research reports. HC Wainwright set a $20.00 target price on Sorrento Therapeutics and gave the company a “buy” rating in a research note on Wednesday, August 30th. Oppenheimer set a $7.00 target price on Sorrento Therapeutics and gave the company a “buy” rating in a research note on Tuesday, August 29th. Six analysts have rated the stock with a buy rating, Sorrento Therapeutics has an average rating of “Buy” and a consensus target price of $11.50.
Shares of Sorrento Therapeutics (NASDAQ SRNE) opened at $2.32 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.54 and a quick ratio of 0.54. Sorrento Therapeutics has a 12 month low of $1.50 and a 12 month high of $6.08.
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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.
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