Sorrento Therapeutics (NASDAQ:SRNE)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report issued on Tuesday.

A number of other research analysts have also issued reports on SRNE. Oppenheimer set a $6.00 price objective on shares of Sorrento Therapeutics and gave the company a “buy” rating in a report on Wednesday, November 15th. BidaskClub upgraded shares of Sorrento Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, ValuEngine upgraded shares of Sorrento Therapeutics from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $11.50.

Sorrento Therapeutics (NASDAQ SRNE) opened at $4.95 on Tuesday. The stock has a market cap of $409.33, a P/E ratio of -6.78 and a beta of 1.59. Sorrento Therapeutics has a fifty-two week low of $1.50 and a fifty-two week high of $5.75. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.18.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Sorrento Therapeutics by 25.3% in the 2nd 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 raised its holdings in Sorrento Therapeutics by 44.7% in the 2nd quarter. Intellectus Partners LLC now owns 1,585,840 shares of the biopharmaceutical company’s stock valued at $3,172,000 after buying an additional 490,000 shares during the last quarter. Virtu KCG Holdings LLC raised its holdings in Sorrento Therapeutics by 497.7% in the 2nd quarter. Virtu KCG Holdings LLC now owns 163,931 shares of the biopharmaceutical company’s stock valued at $328,000 after buying an additional 136,506 shares during the last quarter. Susquehanna International Group LLP bought a new position in Sorrento Therapeutics in the 2nd quarter valued at approximately $306,000. Finally, JPMorgan Chase & Co. raised its holdings in Sorrento Therapeutics by 139.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 76,169 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 44,294 shares during the last quarter. Institutional investors and hedge funds own 11.92% of the company’s stock.

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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.

Analyst Recommendations for Sorrento Therapeutics (NASDAQ:SRNE)

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