Sorrento Therapeutics (SRNE) Receives Coverage Optimism Score of 0.09

News headlines about Sorrento Therapeutics (NASDAQ:SRNE) have trended somewhat positive recently, according to Accern. The research group identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Sorrento Therapeutics earned a media sentiment score of 0.09 on Accern’s scale. Accern also assigned news stories about the biopharmaceutical company an impact score of 46.1560143651389 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

These are some of the news stories that may have effected Accern’s rankings:

A number of brokerages have commented on SRNE. BidaskClub raised Sorrento Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 26th. HC Wainwright set a $40.00 target price on Sorrento Therapeutics and gave the company a “buy” rating in a report on Thursday, April 12th. ValuEngine raised Sorrento Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Finally, B. Riley began coverage on Sorrento Therapeutics in a report on Thursday, June 28th. They set a “buy” rating and a $14.25 target price for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Sorrento Therapeutics has a consensus rating of “Buy” and an average target price of $15.45.

Shares of NASDAQ:SRNE traded up $0.25 during midday trading on Friday, hitting $6.80. The company had a trading volume of 34,308 shares, compared to its average volume of 2,443,459. Sorrento Therapeutics has a twelve month low of $1.50 and a twelve month high of $10.65. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02.

About Sorrento Therapeutics

Sorrento Therapeutics, Inc, a clinical stage biotechnology company, primarily engages in the discovery and development of therapies focused on oncology and the treatment of chronic cancer pain worldwide. The company is focusing on the development of chimeric antigen receptor (CAR)-based immunotherapies using autologous T-cells.

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