Sorrento Therapeutics Inc (NASDAQ:SRNE) – Oppenheimer lowered their Q2 2019 EPS estimates for shares of Sorrento Therapeutics in a research note issued on Monday, May 20th. Oppenheimer analyst M. Breidenbach now expects that the biopharmaceutical company will earn ($0.41) per share for the quarter, down from their prior estimate of ($0.36). Oppenheimer also issued estimates for Sorrento Therapeutics’ Q3 2019 earnings at ($0.42) EPS, Q4 2019 earnings at ($0.37) EPS, Q1 2020 earnings at ($0.34) EPS, Q2 2020 earnings at ($0.26) EPS, Q3 2020 earnings at ($0.25) EPS, Q4 2020 earnings at ($0.21) EPS, FY2020 earnings at ($1.07) EPS and FY2021 earnings at ($0.17) EPS.

Other equities analysts have also recently issued reports about the company. HC Wainwright set a $40.00 target price on Sorrento Therapeutics and gave the stock a “buy” rating in a report on Wednesday, April 17th. B. Riley raised their target price on Sorrento Therapeutics from $10.50 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Zacks Investment Research cut Sorrento Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, BidaskClub raised Sorrento Therapeutics from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $20.67.

Shares of Sorrento Therapeutics stock opened at $3.65 on Thursday. Sorrento Therapeutics has a one year low of $1.80 and a one year high of $8.25. The company has a quick ratio of 2.91, a current ratio of 1.60 and a debt-to-equity ratio of 2.35.

Large investors have recently bought and sold shares of the business. InterOcean Capital LLC bought a new stake in Sorrento Therapeutics during the fourth quarter valued at about $25,000. Mercer Global Advisors Inc. ADV bought a new stake in Sorrento Therapeutics during the first quarter valued at about $30,000. Paloma Partners Management Co bought a new stake in Sorrento Therapeutics during the fourth quarter valued at about $34,000. Amalgamated Bank bought a new stake in Sorrento Therapeutics during the fourth quarter valued at about $35,000. Finally, Baker Avenue Asset Management LP bought a new stake in Sorrento Therapeutics during the first quarter valued at about $47,000. 25.86% of the stock is currently owned by institutional investors and hedge funds.

About Sorrento Therapeutics

Sorrento Therapeutics, Inc, a clinical stage biotechnology company, primarily engages in the discovery and development of therapies focused on oncology and the treatment of chronic cancer pain worldwide. It offers resiniferatoxin, a non-opioid-based TRPV1 agonist neurotoxin for the treatment of intractable pain treatment; and ZTlido, a lidocaine delivery system for the treatment of postherpetic neuralgia.

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Earnings History and Estimates for Sorrento Therapeutics (NASDAQ:SRNE)

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