Oppenheimer Holdings, Inc. set a $6.00 target price on Sorrento Therapeutics, Inc. (NASDAQ:SRNE) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently commented on SRNE. Roth Capital assumed coverage on Sorrento Therapeutics in a research note on Thursday, August 3rd. They issued a buy rating and a $7.00 target price on the stock. HC Wainwright restated a buy rating and issued a $20.00 target price on shares of Sorrento Therapeutics in a research note on Thursday, August 24th. Finally, UBS AG started coverage on Sorrento Therapeutics in a research note on Thursday, August 3rd. They set an outperform rating and a $7.00 price target for the company. Six analysts have rated the stock with a buy rating, Sorrento Therapeutics currently has an average rating of Buy and an average price target of $11.50.

Shares of Sorrento Therapeutics (NASDAQ SRNE) traded up $0.15 during midday trading on Wednesday, reaching $2.40. The company’s stock had a trading volume of 925,005 shares, compared to its average volume of 830,545. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.18. Sorrento Therapeutics has a 1 year low of $1.50 and a 1 year high of $6.38.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Sorrento Therapeutics by 139.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 76,169 shares of the biopharmaceutical company’s stock worth $129,000 after acquiring an additional 44,294 shares in the last quarter. Intellectus Partners LLC boosted its stake in shares of Sorrento Therapeutics by 44.7% during the 2nd quarter. Intellectus Partners LLC now owns 1,585,840 shares of the biopharmaceutical company’s stock worth $3,172,000 after acquiring an additional 490,000 shares in the last quarter. Susquehanna International Group LLP bought a new stake in shares of Sorrento Therapeutics during the 2nd quarter worth about $306,000. Dimensional Fund Advisors LP boosted its stake in shares of Sorrento Therapeutics by 408.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 51,889 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 41,683 shares in the last quarter. Finally, Virtu KCG Holdings LLC boosted its stake in shares of Sorrento Therapeutics by 497.7% during the 2nd quarter. Virtu KCG Holdings LLC now owns 163,931 shares of the biopharmaceutical company’s stock worth $328,000 after acquiring an additional 136,506 shares in the last quarter. Institutional investors own 15.83% of the company’s stock.

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.

Analyst Recommendations for Sorrento Therapeutics (NASDAQ:SRNE)

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