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S&P 500   3,295.71 (-2.80%)
DOW   26,698.88 (-2.78%)
QQQ   272.60 (-3.56%)
AAPL   112.28 (-3.70%)
MSFT   204.18 (-4.25%)
FB   269.30 (-4.94%)
GOOGL   1,517.40 (-5.10%)
AMZN   3,180.24 (-3.23%)
TSLA   409.22 (-3.64%)
NVDA   510.03 (-4.82%)
BABA   306.80 (-3.26%)
CGC   18.52 (-0.75%)
GE   7.77 (+9.44%)
MU   49.97 (-3.83%)
AMD   76.66 (-2.81%)
T   26.52 (-1.49%)
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NFLX   483.58 (-1.09%)
NIO   27.33 (-3.90%)
BA   150.25 (-3.21%)
DIS   119.17 (-3.36%)
S&P 500   3,295.71 (-2.80%)
DOW   26,698.88 (-2.78%)
QQQ   272.60 (-3.56%)
AAPL   112.28 (-3.70%)
MSFT   204.18 (-4.25%)
FB   269.30 (-4.94%)
GOOGL   1,517.40 (-5.10%)
AMZN   3,180.24 (-3.23%)
TSLA   409.22 (-3.64%)
NVDA   510.03 (-4.82%)
BABA   306.80 (-3.26%)
CGC   18.52 (-0.75%)
GE   7.77 (+9.44%)
MU   49.97 (-3.83%)
AMD   76.66 (-2.81%)
T   26.52 (-1.49%)
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ACB   3.87 (-3.25%)
GILD   58.67 (-2.23%)
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BA   150.25 (-3.21%)
DIS   119.17 (-3.36%)
S&P 500   3,295.71 (-2.80%)
DOW   26,698.88 (-2.78%)
QQQ   272.60 (-3.56%)
AAPL   112.28 (-3.70%)
MSFT   204.18 (-4.25%)
FB   269.30 (-4.94%)
GOOGL   1,517.40 (-5.10%)
AMZN   3,180.24 (-3.23%)
TSLA   409.22 (-3.64%)
NVDA   510.03 (-4.82%)
BABA   306.80 (-3.26%)
CGC   18.52 (-0.75%)
GE   7.77 (+9.44%)
MU   49.97 (-3.83%)
AMD   76.66 (-2.81%)
T   26.52 (-1.49%)
F   7.74 (-2.27%)
ACB   3.87 (-3.25%)
GILD   58.67 (-2.23%)
NFLX   483.58 (-1.09%)
NIO   27.33 (-3.90%)
BA   150.25 (-3.21%)
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$10.32 Million in Sales Expected for Sorrento Therapeutics Inc (NASDAQ:SRNE) This Quarter

Monday, October 12, 2020 | MarketBeat

Brokerages expect Sorrento Therapeutics Inc (NASDAQ:SRNE) to announce $10.32 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Sorrento Therapeutics' earnings, with estimates ranging from $9.10 million to $11.53 million. Sorrento Therapeutics posted sales of $5.78 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 78.5%. The company is expected to issue its next earnings report on Friday, November 13th

On average, analysts expect that Sorrento Therapeutics will report full-year sales of $2.05 billion for the current fiscal year, with estimates ranging from $58.66 million to $4.04 billion. For the next fiscal year, analysts expect that the company will report sales of $1.68 billion, with estimates ranging from $344.53 million to $3.01 billion. Zacks' sales calculations are an average based on a survey of sell-side research analysts that follow Sorrento Therapeutics.

Sorrento Therapeutics (NASDAQ:SRNE) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating the Zacks' consensus estimate of ($0.24) by $0.02. Sorrento Therapeutics had a negative net margin of 760.19% and a negative return on equity of 490.67%. The firm had revenue of $9.01 million for the quarter, compared to analyst estimates of $7.90 million.

A number of research analysts have weighed in on SRNE shares. BidaskClub upgraded Sorrento Therapeutics from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 1st. Zacks Investment Research raised shares of Sorrento Therapeutics from a "hold" rating to a "buy" rating and set a $9.00 price target on the stock in a research note on Saturday, August 29th. ValuEngine cut shares of Sorrento Therapeutics from a "buy" rating to a "hold" rating in a research note on Thursday, July 2nd. Finally, HC Wainwright raised their target price on shares of Sorrento Therapeutics from $24.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Sorrento Therapeutics has a consensus rating of "Buy" and an average target price of $21.00.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Sorrento Therapeutics by 0.6% during the 1st quarter. State Street Corp now owns 2,301,587 shares of the biopharmaceutical company's stock valued at $4,235,000 after buying an additional 14,674 shares during the period. US Bancorp DE acquired a new stake in shares of Sorrento Therapeutics during the second quarter valued at about $74,000. Swiss National Bank purchased a new stake in shares of Sorrento Therapeutics in the 2nd quarter valued at approximately $1,653,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Sorrento Therapeutics in the 2nd quarter worth approximately $270,000. Finally, Citigroup Inc. boosted its position in shares of Sorrento Therapeutics by 69.5% during the 1st quarter. Citigroup Inc. now owns 49,275 shares of the biopharmaceutical company's stock worth $91,000 after purchasing an additional 20,197 shares during the period. 24.09% of the stock is owned by hedge funds and other institutional investors.

NASDAQ SRNE opened at $11.25 on Monday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.60 and a quick ratio of 0.58. The stock's 50 day simple moving average is $8.81 and its 200-day simple moving average is $6.43. The company has a market cap of $2.94 billion, a PE ratio of -6.90 and a beta of 2.93. Sorrento Therapeutics has a 1-year low of $1.39 and a 1-year high of $19.39.

Sorrento Therapeutics Company Profile

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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10 Video Game Stocks That Will Cause Investors to Jump Off Their Couch

Video games are big business. In 2019, sales of video games were nearly $150 billion worldwide according to the research firm Newzoo. That marked a 7.2% growth from the previous year. And, at the time of the report Newzoo estimated that global video game sales would rise to nearly $160 billion in 2020.

But in the aftermath of the Covid-19 pandemic, things may be changing. The video game industry is undergoing profound changes. Consumers truly have an a la carte model for gaming. Do they want to use a traditional console? They can. How about their laptop? Check. And they can also use their mobile device.

But it’s not just the hardware they use. Multiplayer games are now the rage as is the ability to play online versus other competitors. And then there’s the whole movement towards esports which is helping to inspire a service like Twitch that allows people to watch other people play video games.

As investors, the growth of digital downloads and cloud-based streaming is playing a significant role in the way video game stocks are perceived. And it’s a big reason why many video game stocks are among the best investments at the moment.

In this special presentation, we’ll look at pure-play video game stocks as well as technology companies that are leveraging their strengths to get a share of this growing pie.

View the "10 Video Game Stocks That Will Cause Investors to Jump Off Their Couch".

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