Sorrento Therapeutics, Inc. (NASDAQ:SRNE) – Investment analysts at Oppenheimer Holdings lowered their Q1 2018 EPS estimates for Sorrento Therapeutics in a research note issued on Wednesday. Oppenheimer Holdings analyst M. Breidenbach now forecasts that the biopharmaceutical company will earn ($0.29) per share for the quarter, down from their previous forecast of $0.02. Oppenheimer Holdings has a “Buy” rating and a $6.00 price target on the stock. Oppenheimer Holdings also issued estimates for Sorrento Therapeutics’ Q2 2018 earnings at ($0.28) EPS, Q3 2018 earnings at ($0.26) EPS, Q4 2018 earnings at ($0.24) EPS, FY2018 earnings at ($1.06) EPS, Q1 2019 earnings at ($0.22) EPS, Q2 2019 earnings at ($0.19) EPS, Q3 2019 earnings at ($0.20) EPS, FY2019 earnings at ($0.81) EPS, FY2020 earnings at ($0.21) EPS and FY2021 earnings at $0.24 EPS.

WARNING: This article was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.watchlistnews.com/q1-2018-earnings-forecast-for-sorrento-therapeutics-inc-issued-by-oppenheimer-holdings-srne/1710625.html.

Other analysts have also recently issued reports about the company. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Sorrento Therapeutics in a research report on Monday, September 18th. Roth Capital assumed coverage on Sorrento Therapeutics in a research report on Thursday, August 3rd. They set a “buy” rating and a $7.00 price objective for the company. Finally, UBS AG assumed coverage on Sorrento Therapeutics in a research report on Thursday, August 3rd. They set an “outperform” rating and a $7.00 price objective for the company. Six research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $11.50.

Shares of Sorrento Therapeutics (NASDAQ:SRNE) traded up $0.05 during midday trading on Friday, hitting $2.45. The company had a trading volume of 497,648 shares, compared to its average volume of 829,052. The company has a quick ratio of 0.54, a current 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.

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its position in Sorrento Therapeutics by 2.0% during the 1st quarter. Bank of America Corp DE now owns 152,179 shares of the biopharmaceutical company’s stock worth $601,000 after acquiring an additional 3,057 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Sorrento Therapeutics by 3.8% in the 1st quarter. Geode Capital Management LLC now owns 366,928 shares of the biopharmaceutical company’s stock valued at $1,449,000 after buying an additional 13,495 shares during the period. KCG Holdings Inc. acquired a new stake in shares of Sorrento Therapeutics in the 1st quarter valued at approximately $108,000. Dimensional Fund Advisors LP lifted its holdings in shares of Sorrento Therapeutics by 408.4% in the 2nd 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 during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Sorrento Therapeutics by 139.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 76,169 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 44,294 shares during the period. 15.83% of the stock is owned by institutional investors.

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.

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

Receive News & Ratings for Sorrento Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sorrento Therapeutics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.