Sorrento Therapeutics (NASDAQ:SRNE) Upgraded at BidaskClub

BidaskClub upgraded shares of Sorrento Therapeutics (NASDAQ:SRNE) from a sell rating to a hold rating in a report released on Wednesday, December 20th.

Several other equities research analysts have also recently commented on SRNE. Oppenheimer set a $7.00 price target on Sorrento Therapeutics and gave the stock a buy rating in a research note on Tuesday, August 22nd. HC Wainwright restated a buy rating and set a $20.00 price target on shares of Sorrento Therapeutics in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Sorrento Therapeutics has a consensus rating of Buy and a consensus price target of $11.50.

Sorrento Therapeutics (NASDAQ:SRNE) traded up $0.32 during mid-day trading on Wednesday, hitting $5.00. The stock had a trading volume of 1,321,991 shares, compared to its average volume of 2,735,902. The firm has a market capitalization of $396.61, a P/E ratio of -11.90 and a beta of 1.04. Sorrento Therapeutics has a 1-year low of $1.50 and a 1-year high of $5.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.54 and a quick ratio of 0.54.

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Sorrento Therapeutics by 408.4% during the second quarter. Dimensional Fund Advisors LP now owns 51,889 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 41,683 shares during the last quarter. JPMorgan Chase & Co. raised its position in Sorrento Therapeutics by 139.0% in the third quarter. JPMorgan Chase & Co. now owns 76,169 shares of the biopharmaceutical company’s stock worth $129,000 after acquiring an additional 44,294 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its position in Sorrento Therapeutics by 227.3% in the second quarter. Matrix Asset Advisors Inc. NY now owns 72,000 shares of the biopharmaceutical company’s stock worth $144,000 after acquiring an additional 50,000 shares in the last quarter. LMR Partners LLP purchased a new position in Sorrento Therapeutics in the second quarter worth $177,000. Finally, Marshall Wace North America L.P. purchased a new position in Sorrento Therapeutics in the second quarter worth $230,000. 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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