News articles about Sorrento Therapeutics (NASDAQ:SRNE) have been trending somewhat positive this week, Accern reports. The research firm identifies negative and positive news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Sorrento Therapeutics earned a coverage optimism score of 0.12 on Accern’s scale. Accern also assigned media stories about the biopharmaceutical company an impact score of 46.3995395804096 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the media stories that may have effected Accern Sentiment’s analysis:
A number of brokerages recently issued reports on SRNE. HC Wainwright set a $30.00 price target on Sorrento Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Oppenheimer reissued a “buy” rating and set a $9.00 price target on shares of Sorrento Therapeutics in a research report on Friday, January 19th. BidaskClub raised Sorrento Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, January 6th. Finally, ValuEngine raised Sorrento Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $13.67.
Sorrento Therapeutics (NASDAQ SRNE) traded up $0.40 during midday trading on Friday, reaching $7.65. The company’s stock had a trading volume of 1,430,000 shares, compared to its average volume of 2,690,000. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.18. Sorrento Therapeutics has a 12-month low of $1.50 and a 12-month high of $8.25. The company has a market capitalization of $606.81, a PE ratio of -18.21 and a beta of 1.94.
In other Sorrento Therapeutics news, major shareholder Pacific Medtech (Bvi) Ltd Asia sold 684,288 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $7.56, for a total transaction of $5,173,217.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Abg Management Ltd sold 310,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $7.64, for a total value of $2,368,400.00. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.
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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.
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