Equities analysts forecast that Sorrento Therapeutics Inc (NASDAQ:SRNE) will post earnings of ($0.25) per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Sorrento Therapeutics’ earnings. Sorrento Therapeutics reported earnings of ($0.19) per share during the same quarter last year, which would suggest a negative year over year growth rate of 31.6%. The firm is expected to issue its next earnings report on Wednesday, December 13th.
On average, analysts expect that Sorrento Therapeutics will report full-year earnings of ($1.10) per share for the current financial year. For the next fiscal year, analysts forecast that the business will report earnings of ($0.90) per share, with EPS estimates ranging from ($1.06) to ($0.74). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Sorrento Therapeutics.
Several analysts recently commented on SRNE shares. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Sorrento Therapeutics in a research note on Thursday, October 5th. Oppenheimer set a $7.00 target price on shares of Sorrento Therapeutics and gave the company a “buy” rating in a research note on Tuesday, August 29th. Six equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $11.50.
Sorrento Therapeutics (NASDAQ:SRNE) remained flat at $$2.25 during mid-day trading on Monday. 368,983 shares of the company were exchanged, compared to its average volume of 792,076. Sorrento Therapeutics has a fifty-two week low of $1.50 and a fifty-two week high of $6.08. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.18.
A number of hedge funds have recently added to or reduced their stakes in SRNE. Intellectus Partners LLC lifted its position in shares of Sorrento Therapeutics by 44.7% in the 2nd quarter. Intellectus Partners LLC now owns 1,585,840 shares of the biopharmaceutical company’s stock valued at $3,172,000 after acquiring an additional 490,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Sorrento Therapeutics by 25.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,930,524 shares of the biopharmaceutical company’s stock valued at $3,861,000 after acquiring an additional 389,258 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Sorrento Therapeutics in the 2nd quarter valued at approximately $306,000. Virtu KCG Holdings LLC lifted its position in shares of Sorrento Therapeutics by 497.7% in the 2nd quarter. Virtu KCG Holdings LLC now owns 163,931 shares of the biopharmaceutical company’s stock valued at $328,000 after acquiring an additional 136,506 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Sorrento Therapeutics in the 2nd quarter valued at approximately $230,000. 12.63% of the stock is owned by institutional investors and hedge funds.
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.
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