FY2021 EPS Estimates for Sorrento Therapeutics, Inc. (NASDAQ:SRNE) Boosted by Oppenheimer Holdings

Sorrento Therapeutics, Inc. (NASDAQ:SRNE) – Equities researchers at Oppenheimer Holdings boosted their FY2021 earnings estimates for shares of Sorrento Therapeutics in a research report issued on Thursday. Oppenheimer Holdings analyst M. Breidenbach now forecasts that the biopharmaceutical company will earn $0.44 per share for the year, up from their prior estimate of $0.33. Oppenheimer Holdings currently has a “Buy” rating and a $7.00 target price on the stock.

Several other equities analysts also recently weighed in on the stock. Roth Capital assumed coverage on shares of Sorrento Therapeutics in a research note on Thursday, August 3rd. They issued a “buy” rating and a $7.00 target price for the company. UBS AG assumed coverage on shares of Sorrento Therapeutics in a research note on Thursday, August 3rd. They issued an “outperform” rating and a $7.00 target price for the company. HC Wainwright set a $20.00 target price on shares of Sorrento Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, July 4th. FBR & Co reiterated a “buy” rating on shares of Sorrento Therapeutics in a research note on Saturday, June 17th. Finally, Rodman & Renshaw reduced their target price on shares of Sorrento Therapeutics from $30.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, May 22nd. Seven research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $11.67.

WARNING: This piece of content was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://stocknewstimes.com/2017/08/12/fy2021-eps-estimates-for-sorrento-therapeutics-inc-nasdaqsrne-boosted-by-oppenheimer-holdings.html.

Sorrento Therapeutics (NASDAQ SRNE) traded down 2.86% during mid-day trading on Friday, reaching $1.70. 453,894 shares of the company’s stock were exchanged. The stock’s market cap is $130.12 million. The company has a 50-day moving average of $1.95 and a 200-day moving average of $2.95. Sorrento Therapeutics has a 52-week low of $1.50 and a 52-week high of $8.35.

In other Sorrento Therapeutics news, insider Henry Ji bought 29,001 shares of Sorrento Therapeutics stock in a transaction dated Thursday, June 15th. The stock was purchased at an average price of $1.81 per share, for a total transaction of $52,491.81. Following the completion of the purchase, the insider now directly owns 139,776 shares of the company’s stock, valued at $252,994.56. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.00% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Sorrento Therapeutics by 408.4% in the second quarter. Dimensional Fund Advisors LP now owns 51,889 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 41,683 shares during the period. KCG Holdings Inc. purchased a new position in Sorrento Therapeutics during the first quarter worth approximately $108,000. 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 buying an additional 50,000 shares during the period. LMR Partners LLP purchased a new position in Sorrento Therapeutics during the second quarter worth approximately $177,000. Finally, Crow Point Partners LLC purchased a new position in Sorrento Therapeutics during the second quarter worth approximately $200,000. Institutional investors own 17.51% of the company’s stock.

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.

Earnings History and Estimates for Sorrento Therapeutics (NASDAQ:SRNE)

Receive News & Ratings for Sorrento Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sorrento Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply