Analysts expect that Sorrento Therapeutics Inc (NASDAQ:SRNE) will post earnings per share of ($0.35) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Sorrento Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.32) and the lowest estimate coming in at ($0.39). Sorrento Therapeutics reported earnings of ($0.38) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 7.9%. The firm is scheduled to issue its next earnings results on Thursday, May 9th.
According to Zacks, analysts expect that Sorrento Therapeutics will report full year earnings of ($1.31) per share for the current year, with EPS estimates ranging from ($1.43) to ($1.17). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.80) per share, with EPS estimates ranging from ($0.88) to ($0.71). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Sorrento Therapeutics.
A number of research analysts have issued reports on SRNE shares. HC Wainwright set a $40.00 price objective on Sorrento Therapeutics and gave the company a “buy” rating in a research note on Wednesday, January 23rd. BidaskClub lowered Sorrento Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 22nd. ValuEngine lowered Sorrento Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. B. Riley boosted their price target on Sorrento Therapeutics from $10.50 to $12.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Zacks Investment Research lowered Sorrento Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $20.67.
Institutional investors have recently made changes to their positions in the company. InterOcean Capital LLC purchased a new position in shares of Sorrento Therapeutics in the fourth quarter valued at about $25,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Sorrento Therapeutics in the first quarter valued at about $30,000. Paloma Partners Management Co purchased a new position in shares of Sorrento Therapeutics in the fourth quarter valued at about $34,000. Amalgamated Bank purchased a new position in shares of Sorrento Therapeutics in the fourth quarter valued at about $35,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in shares of Sorrento Therapeutics by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 30,211 shares of the biopharmaceutical company’s stock valued at $73,000 after acquiring an additional 23,595 shares in the last quarter. Institutional investors and hedge funds own 25.64% of the company’s stock.
SRNE traded down $0.10 on Friday, hitting $3.96. 10,250 shares of the company were exchanged, compared to its average volume of 5,629,129. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.91 and a quick ratio of 2.91. Sorrento Therapeutics has a 12 month low of $1.80 and a 12 month high of $8.25. The firm has a market cap of $496.46 million, a price-to-earnings ratio of 30.75 and a beta of 2.64.
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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