Sorrento Therapeutics (SRNE) Upgraded to “Sell” by ValuEngine

Sorrento Therapeutics (NASDAQ:SRNE) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Wednesday, January 3rd.

A number of other research analysts have also recently issued reports on SRNE. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Sorrento Therapeutics in a research note on Monday, September 18th. Oppenheimer set a $6.00 target price on shares of Sorrento Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Finally, BidaskClub raised shares of Sorrento Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Sorrento Therapeutics presently has an average rating of “Buy” and a consensus target price of $11.50.

Shares of Sorrento Therapeutics (NASDAQ:SRNE) traded up $0.32 during trading hours on Wednesday, reaching $5.00. 1,321,800 shares of the company were exchanged, compared to its average volume of 1,870,000. The company has a market capitalization of $396.61, a PE ratio of -11.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.54 and a quick ratio of 0.54. Sorrento Therapeutics has a fifty-two week low of $1.50 and a fifty-two week high of $5.95.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Intellectus Partners LLC lifted its holdings in shares of Sorrento Therapeutics by 44.7% during the second quarter. Intellectus Partners LLC now owns 1,585,840 shares of the biopharmaceutical company’s stock worth $3,172,000 after purchasing an additional 490,000 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Sorrento Therapeutics by 25.3% during the second quarter. Vanguard Group Inc. now owns 1,930,524 shares of the biopharmaceutical company’s stock worth $3,861,000 after purchasing an additional 389,258 shares during the period. Susquehanna International Group LLP acquired a new position in shares of Sorrento Therapeutics during the second quarter worth $306,000. Virtu KCG Holdings LLC lifted its holdings in shares of Sorrento Therapeutics by 497.7% during the second quarter. Virtu KCG Holdings LLC now owns 163,931 shares of the biopharmaceutical company’s stock worth $328,000 after purchasing an additional 136,506 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in shares of Sorrento Therapeutics during the second quarter worth $230,000. 11.92% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sorrento Therapeutics (NASDAQ:SRNE)

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