BidaskClub upgraded shares of Sorrento Therapeutics (NASDAQ:SRNE) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

SRNE has been the subject of several other research reports. Oppenheimer set a $6.00 price objective on shares of Sorrento Therapeutics and gave the stock a buy rating in a research report on Wednesday, November 15th. ValuEngine raised shares of Sorrento Therapeutics from a strong sell rating to a sell rating in a research report on Wednesday, January 3rd. Finally, HC Wainwright reaffirmed a buy rating and set a $20.00 price objective on shares of Sorrento Therapeutics in a research report on Monday, September 18th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Sorrento Therapeutics presently has a consensus rating of Buy and an average price target of $11.50.

Shares of Sorrento Therapeutics (NASDAQ:SRNE) opened at $4.90 on Friday. The firm has a market cap of $388.68, a P/E ratio of -11.67 and a beta of 1.04. 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 52-week low of $1.50 and a 52-week high of $6.00.

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position 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 buying an additional 44,294 shares during the period. Intellectus Partners LLC grew its position 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 buying an additional 490,000 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Sorrento Therapeutics during the 2nd quarter worth approximately $306,000. Dimensional Fund Advisors LP grew its position 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 buying an additional 41,683 shares during the period. Finally, Virtu KCG Holdings LLC grew its position 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 buying an additional 136,506 shares during the period. 11.92% of the stock is owned by institutional investors.

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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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