Sorrento Therapeutics (SRNE) Given a $30.00 Price Target at HC Wainwright

Sorrento Therapeutics (NASDAQ:SRNE) received a $30.00 price objective from HC Wainwright in a research note issued on Tuesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 305.41% from the company’s current price.

Several other research analysts have also recently issued reports on SRNE. Oppenheimer set a $6.00 target price on Sorrento Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, November 15th. BidaskClub raised Sorrento Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, ValuEngine raised Sorrento Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $13.67.

Shares of Sorrento Therapeutics (NASDAQ SRNE) traded down $0.35 during trading hours on Tuesday, reaching $7.40. The company’s stock had a trading volume of 3,890,878 shares, compared to its average volume of 3,039,800. The stock has a market capitalization of $584.47, a PE ratio of -17.62 and a beta of 1.04. 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 $8.05.

Several hedge funds have recently bought and sold shares of SRNE. Dimensional Fund Advisors LP lifted its position in shares of Sorrento Therapeutics by 408.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 51,889 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 41,683 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Sorrento Therapeutics by 139.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 76,169 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 44,294 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Sorrento Therapeutics during the 4th quarter valued at about $200,000. Susquehanna International Group LLP purchased a new position in shares of Sorrento Therapeutics during the 2nd quarter valued at about $306,000. Finally, Virtu KCG Holdings LLC lifted its position in shares of Sorrento Therapeutics by 497.7% during 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 in the last quarter. 11.87% of the stock is currently 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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