NASDAQ:SRNE

Sorrento Therapeutics - SRNE Stock Forecast, Price & News

$1.35

-0.03 (-2.17%)

(As of 11/25/2022 12:00 AM ET)

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Today's Range: $1.35
▼
$1.40
50-Day Range: $1.34
▼
$1.83
52-Week Range: $1.15
▼
$6.53

Volume: 2.03 million shs
Average Volume: 7.34 million shs
Market Capitalization: $637.04 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $12.50

Sorrento Therapeutics MarketRank™ Forecast

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 825.9% Upside
$12.50 Price Target
Short Interest: Bearish
12.74% of Shares Sold Short
Dividend Strength: N/A
Sustainability: -1.01
Upright™ Environmental Score
News Sentiment: N/A
Insider Trading: N/A
Proj. Earnings Growth: Growing
From ($1.18) to ($0.88) Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.17 out of 5 stars

Medical Sector

659th out of 1,044 stocks

Biological Products, Except Diagnostic Industry

110th out of 174 stocks

3.5

Analyst's Opinion

Consensus Rating
Sorrento Therapeutics has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $12.50, Sorrento Therapeutics has a forecasted upside of 825.9% from its current price of $1.35.
Amount of Analyst Coverage
Sorrento Therapeutics has only been the subject of 1 research reports in the past 90 days.

2.0

Short Interest

Percentage of Shares Shorted
12.74% of the outstanding shares of Sorrento Therapeutics have been sold short.
Short Interest Ratio / Days to Cover
Sorrento Therapeutics has a short interest ratio ("days to cover") of 7.9.
Change versus previous month
Short interest in Sorrento Therapeutics has recently decreased by 0.91%, indicating that investor sentiment is improving.

0.0

Dividend Strength

Dividend Yield
Sorrento Therapeutics does not currently pay a dividend.
Dividend Growth
Sorrento Therapeutics does not have a long track record of dividend growth.

4.6

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Sorrento Therapeutics has received a 73.59% net impact score from Upright. The largest positive contribution comes from its "Physical diseases" impact, which is mostly driven by its "Clinical research services for infectious diseases", "Clinical research services for cancer", and "Glucocorticoids" products. See details.
Environmental Sustainability
The Environmental Impact score for Sorrento Therapeutics is -1.01.

3.3

News and Social Media Coverage

News Sentiment
Sorrento Therapeutics has a news sentiment score of 1.89. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.82 average news sentiment score of Medical companies.
News Coverage This Week
MarketBeat has tracked 1 news article for Sorrento Therapeutics this week, compared to 2 articles on an average week.
Search Interest
Only 40 people have searched for SRNE on MarketBeat in the last 30 days. This is a decrease of -37% compared to the previous 30 days.
MarketBeat Follows
17 people have added Sorrento Therapeutics to their MarketBeat watchlist in the last 30 days. This is an increase of 89% compared to the previous 30 days.

0.0

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Sorrento Therapeutics insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 2.60% of the stock of Sorrento Therapeutics is held by insiders.
Percentage Held by Institutions
Only 33.61% of the stock of Sorrento Therapeutics is held by institutions.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Sorrento Therapeutics are expected to grow in the coming year, from ($1.18) to ($0.88) per share.
Price to Book Value per Share Ratio
Sorrento Therapeutics has a P/B Ratio of 4.82. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Sorrento Therapeutics (NASDAQ:SRNE) Stock

Sorrento Therapeutics, Inc., a clinical stage and commercial biopharmaceutical company, develops therapies for cancer, autoimmune, inflammatory, viral, and neurodegenerative diseases. It operates through two segments, Sorrento Therapeutics and Scilex. The company provides cancer therapeutic by leveraging its proprietary G-MAB antibody library and targeted delivery modalities, which include chimeric antigen receptor T-cell therapy (CAR-T), dimeric antigen receptor T-cell therapy, and antibody drug conjugate, as well as bispecific antibody approach; and Sofusa, a drug delivery technology that deliver biologic directly into the lymphatic system. Its clinical programs in development include anti-CD38 CAR-T therapy for the treatment of multiple myeloma, as well as for amyloidosis and graft versus host disease. The company develops resiniferatoxin, a non-opioid-based TRPV1 agonist neurotoxin for late stage cancer and osteoarthritis knee pain treatment; and ZTlido, a lidocaine delivery system for the treatment of postherpetic neuralgia. It engages in the development of SEMDEXA, an injectable viscous gel formulation, which is Phase III trial for the treatment of sciatica, a pathology of low back pain; SP-103, an investigational non-aqueous lidocaine topical system undergoing clinical development in chronic low back pain condition; and SP-104, a novel low-dose delayed-release naltrexone hydrochloride formulation for the treatment of fibromyalgia. It has collaboration with SmartPharm Therapeutics Inc. to develop gene-encoded antibody vaccine to protect against COVID-19; Celularity, Inc. for initiating Phase I/II clinical study, including up to 94 patients with COVID-19; Mount Sinai Health System to develop COVI-SHIELD, an antibody therapy targeting SARS-CoV-2 infection; and Mayo Clinic for Phase Ib pilot study using sofusa lymphatic drug delivery technology to deliver Ipilimumab in patient with melanoma. The company was founded in 2006 and is based in San Diego, California.

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SRNE Stock News Headlines

November 18, 2022 | finance.yahoo.com

Further weakness as Sorrento Therapeutics (NASDAQ:SRNE) drops 12% this week, taking one-year losses to 76%

November 13, 2022 | tmcnet.com

Sorrento to Host Webcast to Discuss Newly Presented

November 13, 2022 | finance.yahoo.com

Sorrento to Host Webcast to Discuss Newly Presented Clinical Data Demonstrating Significant Improvements in Therapeutic Outcomes in 10 of 10 Patients with Poorly Controlled Rheumatoid Arthritis

November 10, 2022 | finance.yahoo.com

Scilex Holding Company, a majority-owned subsidiary of Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”), and Vickers Vantage Corp. I Announce the Closing of their Previously Announced Business Combination

November 10, 2022 | finance.yahoo.com

Scilex Holding Company, a majority-owned subsidiary of Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”), Debuts on Nasdaq Under Ticker “SCLX”

November 9, 2022 | seekingalpha.com

Sorrento: Limited Potential, High Management Compensation, Complicated Lawsuits

November 9, 2022 | apnews.com

Sorrento Therapeutics: Q3 Earnings Snapshot

November 8, 2022 | seekingalpha.com

Sorrento Therapeutics: Down The Rabbit Hole

October 28, 2022 | finance.yahoo.com

7 of the Best Contrarian Stocks to Buy When Investors Are Fearful

October 21, 2022 | finance.yahoo.com

Sorrento Therapeutics, Inc. stock performance and analyst projections

October 20, 2022 | finance.yahoo.com

Why Sorrento Therapeutics Stock Is on the Rise Today

October 17, 2022 | finance.yahoo.com

Sorrento Successfully Completes Phase 1 Study and Is Proceeding to Implement Global Registrational Trials with STI-1558, an Oral Mpro Inhibitor as a Standalone Oral Treatment and Prevention of COVID-19 without the Need for a Ritonavir Booster

October 14, 2022 | finance.yahoo.com

Sorrento Announces Publication of Data in Cell Press Journal Med Describing Discovery and Preclinical Efficacy of a Broadly-Acting SARS-CoV-2 Neutralizing Antibody Administered IV (STI-9167) or IN (STI-9199)

October 6, 2022 | finance.yahoo.com

Sorrento Therapeutics to Participate in Key Opinion Leader Panel Discussion on “New Horizons for the Treatment of Non-small Cell Lung Cancer”

October 4, 2022 | finance.yahoo.com

Why Sorrento Therapeutics' Shares Tumbled 23.4% in September

September 30, 2022 | seekingalpha.com

SRNE Sorrento Therapeutics, Inc.

September 29, 2022 | finance.yahoo.com

Scilex Holding Company, a Sorrento Company, Announces Pre-Emptive Pay Off of Remaining Balance of its Senior Secured Notes

September 26, 2022 | finance.yahoo.com

Sorrento Therapeutics Completes Enrollment of Phase 2 Clinical Trial of Resiniferatoxin (RTX) for Treatment of Knee Pain in Moderate to Severe Osteoarthritis of the Knee (OAK) Patients

September 15, 2022 | finance.yahoo.com

Sorrento Announces the Publication in the Nature Journal Scientific Reports the Details of the Discovery of SARS-CoV-2 Neutralizing Antibodies from the G-MAB Library

September 15, 2022 | finance.yahoo.com

Sorrento Reports Positive Trial Results Utilizing Sofusa Lymphatic Delivery of Etanercept, Achieving Significant Improvements in Rheumatoid Arthritis Disease Measures at 50% of the Standard Dose for Patients (7 of 7) with an Inadequate Response to Subcutaneous Injections

September 8, 2022 | finance.yahoo.com

Sorrento Therapeutics to Participate in Morgan Stanley 20th Annual Global Healthcare Conference September 12-14

September 8, 2022 | finance.yahoo.com

Why Sorrento Therapeutics Stock Is Marching Higher Today

August 31, 2022 | marketwatch.com

Sorrento Therapeutics Shares Rise Premarket on SP-103 Fast-Track Designation >SRNE

August 30, 2022 | finance.yahoo.com

Scilex Holding Company, a Sorrento Company, Announces That the FDA Has Granted Fast Track Designation for SP-103 (Lidocaine Topical System) 5.4%, Next Generation Triple Strength Formulation of ZTlido®, for the Treatment of Acute Low Back Pain (LBP)

August 25, 2022 | 247wallst.com

Positive Abivertinib Trial Results Push Sorrento Therapeutics (SRNE) 6.2% Higher

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SRNE Company Calendar

Today: 11/26/2022
Fiscal Year End: 12/31/2022
Next Earnings (Estimated): 2/14/2023

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Biological products, except diagnostic
Sub-Industry: N/A
Sector: Medical
Current Symbol: NASDAQ:SRNE
CUSIP: N/A
CIK: 850261
Web: www.sorrentotherapeutics.com
Phone: (858) 203-4100
Fax: 858-210-3759
Employees: 799
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $12.50
High Stock Price Forecast: $20.00
Low Stock Price Forecast: $5.00
Forecasted Upside/Downside: +825.9%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 2 Analysts

Profitability

EPS (Most Recent Fiscal Year): N/A
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-428,330,000.00
Net Margins: -818.22%
Pretax Margin: -877.48%
Return on Equity: -282.82%
Return on Assets: -57.64%

Debt

Debt-to-Equity Ratio: 0.14
Current Ratio: 0.88
Quick Ratio: 0.79

Sales & Book Value

Annual Sales: $52.90 million
Price / Sales: 12.04
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $0.28 per share
Price / Book: 4.82

Miscellaneous

Outstanding Shares: 471,880,000
Free Float: 459,611,000
Market Cap: $637.04 million
Optionable: Optionable
Beta: 2.18

Key Executives

Dr. Henry H. Ji Ph.D. (Age 58)
Chairman, Pres & CEO
Comp: $1.69M

Ms. Elizabeth Adkins Czerepak M.B.A. (Age 66)
Exec. VP, CFO & Chief Bus. Officer
Comp: $8.12k

Mr. Brian Cooley
Sr. VP of Corp. Communications & Lymphatic Drug Devel. BU

Mr. William J. Farley B.Sc. (Age 66)
VP of Sales & Bus. Devel.

Dr. Michael A. Royal (Age 68)
SVP & Chief Medical Officer

Dr. Alexis Nahama D.V.M.
Sr. VP of Neurotherapeutics BU

Dr. Mark R. Brunswick
Sr. VP of Regulatory Affairs

Dr. Shawn Sahebi Ph.D.
Sr. VP of Commercial Operations

Dr. Robert D. Allen Ph.D.
Sr. VP of R&D

Dr. Xiao Xu M.D.
Pres of ACEA

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

SRNE Stock - Frequently Asked Questions

Should I buy or sell Sorrento Therapeutics stock right now?: 2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Sorrento Therapeutics in the last twelve months. There are currently 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" SRNE shares.
View SRNE analyst ratings or view top-rated stocks.
What is Sorrento Therapeutics' stock price forecast for 2023?: 2 Wall Street analysts have issued 1 year target prices for Sorrento Therapeutics' shares. Their SRNE share price forecasts range from $5.00 to $20.00. On average, they anticipate the company's share price to reach $12.50 in the next twelve months. This suggests a possible upside of 825.9% from the stock's current price.
View analysts price targets for SRNE or view top-rated stocks among Wall Street analysts.
How have SRNE shares performed in 2022?: Sorrento Therapeutics' stock was trading at $4.65 at the start of the year. Since then, SRNE stock has decreased by 71.0% and is now trading at $1.35.
View the best growth stocks for 2022 here.
When is Sorrento Therapeutics' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 14th 2023.
View our SRNE earnings forecast.
What other stocks do shareholders of Sorrento Therapeutics own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Sorrento Therapeutics investors own include Inovio Pharmaceuticals (INO), Novavax (NVAX), Vaxart (VXRT), Advanced Micro Devices (AMD), Moderna (MRNA), NVIDIA (NVDA), ADMA Biologics (ADMA), Tesla (TSLA), Dynavax Technologies (DVAX) and NIO (NIO).

What is Sorrento Therapeutics' stock symbol?: Sorrento Therapeutics trades on the NASDAQ under the ticker symbol "SRNE."
Who are Sorrento Therapeutics' major shareholders?: Sorrento Therapeutics' stock is owned by many different institutional and retail investors. Top institutional shareholders include State Street Corp (8.62%), BlackRock Inc. (7.24%), Vanguard Group Inc. (4.77%), Nuveen Asset Management LLC (0.45%), Barclays PLC (0.44%) and Bank of New York Mellon Corp (0.28%). Insiders that own company stock include Henry Ji, Kim Janda and Robin L Smith.
View institutional ownership trends.
How do I buy shares of Sorrento Therapeutics?: Shares of SRNE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is Sorrento Therapeutics' stock price today?: One share of SRNE stock can currently be purchased for approximately $1.35.
How much money does Sorrento Therapeutics make?: Sorrento Therapeutics (NASDAQ:SRNE) has a market capitalization of $637.04 million and generates $52.90 million in revenue each year.
How many employees does Sorrento Therapeutics have?: The company employs 799 workers across the globe.
How can I contact Sorrento Therapeutics?: Sorrento Therapeutics' mailing address is 4955 DIRECTORS PLACE, SAN DIEGO CA, 92121. The official website for the company is www.sorrentotherapeutics.com. The biopharmaceutical company can be reached via phone at (858) 203-4100, via email at investors@sorrentotherapeutics.com, or via fax at 858-210-3759.

This page (NASDAQ:SRNE) was last updated on 11/27/2022 by MarketBeat.com Staff

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Sorrento Therapeutics - SRNE Stock Forecast, Price & News

Sorrento Therapeutics MarketRank™ Forecast

Overall MarketRank™