Sorrento Therapeutics Inc (NASDAQ:SRNE) has been given an average recommendation of “Buy” by the six analysts that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $12.00.

Several research analysts recently commented on SRNE shares. Oppenheimer set a $7.00 price target on Sorrento Therapeutics and gave the stock a “buy” rating in a research note on Thursday, August 10th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Sorrento Therapeutics in a research note on Thursday, August 24th.

Sorrento Therapeutics (NASDAQ SRNE) opened at $2.32 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.54 and a current ratio of 0.54. Sorrento Therapeutics has a one year low of $1.50 and a one year high of $6.08.

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

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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.

Analyst Recommendations for Sorrento Therapeutics (NASDAQ:SRNE)

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