Sorrento Therapeutics, Inc. (NASDAQ:SRNE)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a note issued to investors on Monday. They presently have a $20.00 price objective on the biopharmaceutical company’s stock.

A number of other research analysts also recently weighed in on SRNE. FBR & Co reiterated an “outperform” rating and issued a $9.00 price objective (down previously from $13.00) on shares of Sorrento Therapeutics in a research report on Monday, May 22nd. Rodman & Renshaw decreased their price objective 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. UBS AG initiated coverage on shares of Sorrento Therapeutics in a research report on Thursday, August 3rd. They issued an “outperform” rating and a $7.00 price objective for the company. Roth Capital initiated coverage on shares of Sorrento Therapeutics in a research report on Thursday, August 3rd. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of Sorrento Therapeutics in a research report on Friday, August 4th. They issued an “outperform” rating and a $7.00 price objective for the company. Six analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $11.67.

Shares of Sorrento Therapeutics (NASDAQ:SRNE) remained flat at $1.80 during midday trading on Monday. The company’s stock had a trading volume of 573,315 shares. The firm’s 50-day moving average is $1.78 and its 200-day moving average is $2.32. Sorrento Therapeutics has a 12-month low of $1.50 and a 12-month high of $8.35. The company’s market cap is $124.15 million.

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Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Sorrento Therapeutics by 25.3% in the second quarter. Vanguard Group Inc. now owns 1,930,524 shares of the biopharmaceutical company’s stock worth $3,861,000 after acquiring an additional 389,258 shares during the period. Intellectus Partners LLC increased its stake 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of Sorrento Therapeutics by 3.8% during the first quarter. Geode Capital Management LLC now owns 366,928 shares of the biopharmaceutical company’s stock worth $1,449,000 after purchasing an additional 13,495 shares in the last quarter. Vident Investment Advisory LLC increased its stake in shares of Sorrento Therapeutics by 20.0% during the first quarter. Vident Investment Advisory LLC now owns 170,534 shares of the biopharmaceutical company’s stock worth $674,000 after purchasing an additional 28,420 shares in the last quarter. Finally, Virtu KCG Holdings LLC increased its stake 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 in the last quarter. Institutional investors and hedge funds own 16.31% 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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