Sorrento Therapeutics Inc. (NASDAQ:SRNE) has received an average rating of “Buy” from the six research firms that are covering the company. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $25.00.

A number of analysts have commented on SRNE shares. Roth Capital set a $15.00 price target on Sorrento Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Brean Capital reaffirmed a “buy” rating on shares of Sorrento Therapeutics in a research report on Friday, August 12th. FBR & Co reaffirmed a “buy” rating on shares of Sorrento Therapeutics in a research report on Thursday, August 4th. Finally, Rodman & Renshaw reaffirmed a “buy” rating on shares of Sorrento Therapeutics in a research report on Sunday, July 17th.

Shares of Sorrento Therapeutics (NASDAQ:SRNE) opened at 6.20 on Monday. The stock’s market cap is $356.93 million. The company’s 50 day moving average price is $6.76 and its 200 day moving average price is $6.54. Sorrento Therapeutics has a 52-week low of $4.25 and a 52-week high of $10.26.

Several institutional investors have recently modified their holdings of SRNE. Wildcat Capital Management LLC boosted its position in shares of Sorrento Therapeutics by 6.7% in the second quarter. Wildcat Capital Management LLC now owns 2,799,790 shares of the biopharmaceutical company’s stock valued at $15,678,000 after buying an additional 176,257 shares during the period. KCG Holdings Inc. bought a new position in shares of Sorrento Therapeutics during the third quarter valued at about $168,000. BlackRock Fund Advisors boosted its position in shares of Sorrento Therapeutics by 2.8% in the second quarter. BlackRock Fund Advisors now owns 746,289 shares of the biopharmaceutical company’s stock valued at $4,179,000 after buying an additional 20,587 shares during the period. Citadel Advisors LLC bought a new position in shares of Sorrento Therapeutics during the third quarter valued at about $109,000. Finally, Northern Trust Corp boosted its position in shares of Sorrento Therapeutics by 3.3% in the third quarter. Northern Trust Corp now owns 377,904 shares of the biopharmaceutical company’s stock valued at $2,925,000 after buying an additional 11,952 shares during the period. 22.33% 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.

5 Day Chart for NASDAQ:SRNE

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