Sorrento Therapeutics (NASDAQ:SRNE) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

SRNE has been the subject of a number of other research reports. Oppenheimer set a $6.00 price target on Sorrento Therapeutics and gave the company a “buy” rating in a research report on Wednesday, November 15th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Sorrento Therapeutics in a research report on Thursday, October 5th. Finally, ValuEngine upgraded Sorrento Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Sorrento Therapeutics presently has an average rating of “Buy” and an average price target of $11.50.

Sorrento Therapeutics (SRNE) traded down $0.10 during trading hours on Friday, hitting $5.10. The company had a trading volume of 3,709,497 shares, compared to its average volume of 1,670,000. 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 fifty-two week low of $1.50 and a fifty-two week high of $6.08. The firm has a market cap of $396.76, a price-to-earnings ratio of -12.14 and a beta of 1.04.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in 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 acquiring an additional 389,258 shares during the period. Intellectus Partners LLC boosted its position in 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 acquiring an additional 490,000 shares during the period. Susquehanna International Group LLP acquired a new stake in Sorrento Therapeutics during the 2nd quarter worth about $306,000. Virtu KCG Holdings LLC boosted its position in 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 acquiring an additional 136,506 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in Sorrento Therapeutics during the 2nd quarter worth about $230,000. Institutional investors and hedge funds own 11.92% of the company’s stock.

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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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