Sorrento Therapeutics (NASDAQ:SRNE) Receiving Somewhat Critical Press Coverage, Analysis Finds

Pierre Vaugeois
Juillet 17, 2017

Sorrento Therapeutics earned a news sentiment score of -0.04 on Accern's scale. The business is expected to report its next earnings results on Monday, August 14th.

According to Zacks, analysts expect that Sorrento Therapeutics will report full year earnings of ($1.44) per share for the current fiscal year, with EPS estimates ranging from ($1.49) to ($1.38). For the next year, analysts forecast that the company will post earnings of ($1.05) per share, with EPS estimates ranging from ($1.34) to ($0.75).

The volume of the particular stock is the shares bought and sold in a single trading day.

SRNE has been the topic of several analyst reports. H.C. Wainwright maintained Sorrento Therapeutics Inc (NASDAQ:SRNE) on Tuesday, June 27 with "Buy" rating. FBR & Co reissued an "outperform" rating and set a $9.00 target price (down previously from $13.00) on shares of Sorrento Therapeutics in a research note on Monday, May 22nd. Five equities research analysts have rated the stock with a buy rating, The company now has an average rating of "Buy" and a consensus target price of $16.00. Ng George K also sold $206,000 worth of Sorrento Therapeutics Inc (NASDAQ:SRNE) on Friday, February 3. (SRNE) has the trading volume of 1.82 Million shares with the average trading volume of 752910 shares. The firm's 50-day moving average price is $1.73 and its 200-day moving average price is $3.65. The company has market cap of $1.32 billion. (SRNE) now has a value of $2 while the company's 52 week low is at $1.50, the shares dropped to the 52 week low on 06/12/17.

TRADEMARK VIOLATION NOTICE: "Somewhat Negative Press Coverage Very Unlikely to Impact Sorrento Therapeutics (NASDAQ:SRNE) Stock Price" was originally reported by Transcript Daily and is owned by of Transcript Daily. Glenmede Trust Na has invested 0% of its portfolio in Sorrento Therapeutics Inc (NASDAQ:SRNE). If you are reading this piece of content on another site, it was illegally copied and reposted in violation of United States & worldwide trademark and copyright legislation.

In related news, major shareholder Abg Management Ltd bought 550,000 shares of the company's stock in a transaction that occurred on Wednesday, April 19th. The stock was acquired at an average cost of $2.00 per share, for a total transaction of $1,100,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Henry Ji bought 29,001 shares of the company's stock in a transaction dated Thursday, June 15th. The shares were acquired at an average price of $2.00 per share, with a total value of $200,000.00. Following the transaction, the chief executive officer now owns 139,776 shares of the company's stock, valued at approximately $279,552. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 689,003 shares of company stock valued at $1,370,395. The firm owned 91,593 shares of the biopharmaceutical company's stock after selling 33,668 shares during the period.

A number of hedge funds have recently made changes to their positions in the stock. Wu Yue Alexander also bought $25,750 worth of Sorrento Therapeutics Inc (NASDAQ:SRNE) shares. Teachers Advisors LLC boosted its position in Sorrento Therapeutics by 10.8% in the fourth quarter. FMR LLC purchased a new stake in shares of Sorrento Therapeutics during the first quarter worth approximately $430,000. Finally, Vident Investment Advisory LLC boosted its stake in shares of Sorrento Therapeutics by 20.0% in the first quarter. Finally, Bank of America Corp DE raised its stake in Sorrento Therapeutics by 2.0% in the first quarter. Bank of America Corp DE now owns 152,179 shares of the biopharmaceutical company's stock worth $601,000 after buying an additional 3,057 shares in the last quarter.

Sorrento Therapeutics Inc now has $141.64M valuation. The Firm 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.

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