BidaskClub upgraded shares of Sorrento Therapeutics (NASDAQ:SRNE) from a sell rating to a hold rating in a research report report published on Wednesday.

A number of other analysts also recently weighed in on the company. HC Wainwright set a $20.00 target price on Sorrento Therapeutics and gave the stock a buy rating in a research report on Wednesday, August 30th. Oppenheimer set a $6.00 target price on Sorrento Therapeutics and gave the stock a buy rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Sorrento Therapeutics has an average rating of Buy and a consensus price target of $11.50.

Sorrento Therapeutics (SRNE) traded down $0.33 during trading hours on Wednesday, reaching $3.37. The company had a trading volume of 2,642,600 shares, compared to its average volume of 877,818. Sorrento Therapeutics has a one year low of $1.50 and a one year high of $6.08. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.18.

A number of hedge funds have recently made changes to their positions in SRNE. Intellectus Partners LLC lifted its position in Sorrento Therapeutics by 44.7% in the second quarter. Intellectus Partners LLC now owns 1,585,840 shares of the biopharmaceutical company’s stock valued at $3,172,000 after purchasing an additional 490,000 shares during the last quarter. Vanguard Group Inc. lifted its position in Sorrento Therapeutics by 25.3% in the second quarter. Vanguard Group Inc. now owns 1,930,524 shares of the biopharmaceutical company’s stock valued at $3,861,000 after purchasing an additional 389,258 shares during the last quarter. Susquehanna International Group LLP bought a new stake in Sorrento Therapeutics in the second quarter valued at approximately $306,000. Virtu KCG Holdings LLC lifted its position in Sorrento Therapeutics by 497.7% in the second quarter. Virtu KCG Holdings LLC now owns 163,931 shares of the biopharmaceutical company’s stock valued at $328,000 after purchasing an additional 136,506 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in Sorrento Therapeutics in the second quarter valued at approximately $230,000. Hedge funds and other institutional investors own 12.42% of the company’s stock.

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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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