" "HC Wainwright Reiterates "$20.00" Price Target for Sorrento Therapeutics, Inc. (NASDAQ:SRNE)

Sorrento Therapeutics earned a media sentiment score of -0.14 on Accern's scale. The business is expected to report its next earnings results on Monday, August 14th. Sorrento Therapeutics had 12 analyst reports since July 29, 2015 according to SRatingsIntel. 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). Based on an average daily volume of 487,996 shares, the short-interest ratio is now 7.8 days.

SRNE has been the topic of several analyst reports. The rating was maintained by FBR Capital with "Buy" on Thursday, June 15. H.C. Wainwright maintained Sorrento Therapeutics Inc (NASDAQ:SRNE) on Tuesday, June 27 with "Buy" rating. Finally, Rodman & Renshaw cut their price objective on shares of Sorrento Therapeutics from $30.00 to $20.00 and set a "buy" rating on the stock in a research report 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.

Sorrento Therapeutics (NASDAQ SRNE) traded up 5.26% during trading on Friday, hitting $2.00. The stock has a 50 day moving average of $1.73 and a 200 day moving average of $3.65. The firm's market cap is $150.62 million. Sorrento Therapeutics, Inc. has a 1-year low of $1.50 and a 1-year high of $8.35.

COPYRIGHT VIOLATION NOTICE: "Analysts Anticipate Sorrento Therapeutics, Inc".

Among 7 analysts covering Sorrento Therapeutics (NASDAQ:SRNE), 7 have Buy rating, 0 Sell and 0 Hold. If you are reading this news story on another publication, it was stolen and reposted in violation of worldwide trademark and copyright legislation. Vanguard Grp Incorporated reported 0% in Sorrento Therapeutics Inc (NASDAQ:SRNE). Also, major shareholder Abg Management Ltd purchased 550,000 shares of the stock in a transaction on Wednesday, April 19th.

The difference of 52 week low value as well as 52 week high value and the current price of the stock suggests the next move of the shares.

In other Sorrento Therapeutics news, CEO Henry Ji acquired 100,000 shares of the business's stock in a transaction that occurred on Wednesday, April 19th. The stock was purchased at an average price of $2.00 per share, with a total value of $200,000.00. Following the acquisition, the chief executive officer now directly owns 139,776 shares of the company's stock, valued at approximately $279,552. The disclosure for this purchase can be found here. The insider Herde Kevin bought 3,000 shares worth $15,450. Accern also assigned news stories about the biopharmaceutical company an impact score of 16 out of 100, meaning that recent news coverage is very unlikely to have an impact on the stock's share price in the near future.

A number of hedge funds have recently made changes to their positions in the stock.

Now the shares of Sorrento Therapeutics, Inc. Teachers Advisors LLC boosted its stake in shares of Sorrento Therapeutics by 10.8% in the fourth quarter. Teachers Advisors LLC now owns 41,908 shares of the biopharmaceutical company's stock worth $205,000 after buying an additional 4,099 shares in the last quarter. FMR LLC purchased a new position in Sorrento Therapeutics during the first quarter worth approximately $430,000. Vident Investment Advisory LLC bought a new stake in Sorrento Therapeutics during the fourth quarter worth $696,000. Finally, Bank of America Corp DE boosted its position in Sorrento Therapeutics by 2.0% in the first quarter. State Street Corp now owns 514,597 shares of the biopharmaceutical company's stock worth $2,519,000 after buying an additional 29,076 shares in the last quarter.

Analysts have placed a $16.33 price target on Sorrento Therapeutics, Inc., suggesting a 716.5% gain from recent close. 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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