Oppenheimer Holdings, Inc. set a $7.00 price target on Sorrento Therapeutics, Inc. (NASDAQ:SRNE) in a research note published on Tuesday. The firm currently has a buy rating on the biopharmaceutical company’s stock. Oppenheimer Holdings also issued estimates for Sorrento Therapeutics’ Q1 2019 earnings at ($0.16) EPS and Q2 2019 earnings at $0.24 EPS.

SRNE has been the subject of a number of other reports. HC Wainwright reiterated a buy rating and issued a $20.00 price target on shares of Sorrento Therapeutics in a research report on Thursday, August 24th. Roth Capital assumed coverage on shares of Sorrento Therapeutics in a research report on Thursday, August 3rd. They issued a buy rating and a $7.00 price target for the company. FBR & Co reiterated a buy rating on shares of Sorrento Therapeutics in a research report on Saturday, June 17th. UBS AG assumed coverage on shares of Sorrento Therapeutics in a research report on Thursday, August 3rd. They issued an outperform rating and a $7.00 price target for the company. Finally, Rodman & Renshaw dropped their price target on shares of Sorrento Therapeutics from $30.00 to $20.00 and set a buy rating for the company in a research report on Monday, May 22nd. Six analysts have rated the stock with a buy rating, The company has an average rating of Buy and an average price target of $11.67.

Shares of Sorrento Therapeutics (NASDAQ SRNE) opened at 1.625 on Tuesday. The firm’s 50-day moving average price is $1.87 and its 200 day moving average price is $2.69. The stock’s market capitalization is $112.08 million. Sorrento Therapeutics has a 12-month low of $1.50 and a 12-month high of $8.35.

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In other news, insider Henry Ji acquired 29,001 shares of the stock in a transaction on Thursday, June 15th. The stock was acquired at an average cost of $1.81 per share, for a total transaction of $52,491.81. Following the completion of the transaction, the insider now directly owns 139,776 shares in the company, valued at $252,994.56. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 5.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Sorrento Therapeutics by 408.4% in the second quarter. Dimensional Fund Advisors LP now owns 51,889 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 41,683 shares in the last quarter. KCG Holdings Inc. purchased a new position in shares of Sorrento Therapeutics during the first quarter valued at approximately $108,000. Matrix Asset Advisors Inc. NY increased its position in shares of 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 valued at $144,000 after buying an additional 50,000 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Sorrento Therapeutics during the second quarter valued at approximately $177,000. Finally, Crow Point Partners LLC purchased a new position in shares of Sorrento Therapeutics during the second quarter valued at approximately $200,000. Institutional investors and hedge funds own 16.32% 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.

Analyst Recommendations for Sorrento Therapeutics (NASDAQ:SRNE)

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