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Sorrento Stock Has Multiple Catalysts in Play; Analyst Says ‘Buy’

Some companies favor a "do one job and do it well" approach. However, that is not the Sorrento Therapeutics (SRNE) way.

While being laser-focused on just one objective can have its advantages, having a wider-based remit can be just as effective, if done well.

That is certainly the opinion of Alliance Global analyst James Molloy when evaluating Sorrento’s prospects.

“SRNE combines one of the most active and promising pipelines in the COVID space with a potentially transformative non-opioid pain pipeline, and adds in a deep oncology pipeline,” the analyst said. “Most of SRNE's pipeline has significant catalysts over the next 1-4 quarters, with multiple late-stage clinical data read-outs and multiple potential Emergency Use Authorization (EUA) launches as well.”

So, what’s on offer from the Sorrento menu in the near-term?

The company has already filed an EUA for COVI-STIX, a 15-minute nasal swab antigen test for SARS-CoV-2, in the US and Mexico, and the test could be launched as early as 1H21.

Accurate COVID tests are still needed in the US and around the globe, and Molloy expects the assay to gain EUA approval and could “rapidly approach $500M in sales as soon as 2022.“

SRNE's 8-minute SARS-CoV-2 antibody test COVID-TRACK could swiftly follow in its footsteps with an EUA anticipated to be filed in the year’s first half, too. “This could easily be another $500million+ near term opportunity,” Molloy said.

Furthermore, the company’s two neutralizing antibody treatments, COVI-DROPS and COVI-AMG, against SARS-CoV-2, could be launched in 2022. Each of these, as well, have the potential to bring in more than $500 million in sales, according to the analyst

The company’s non-opioid pain pipeline also has several late-stage catalysts.

Fast tracked by the FDA, Phase 3 data for sciatica pain candidate SP-102 should be available this year, while RTX for OsteoArthritis (OA) knee pain and intractable cancer pain will kick-off Phase 2 and Phase 3 studies, respectively, in 2021. Both target “substantial market opportunities.”

Last but not least is Abivertinib, the company's oncology lead candidate, indicated for non-small-cell lung cancer (NSCLC) and B-cell lymphomas, and currently in Phase 3 trials in China with top line data anticipated in 1H21.

To this end, based on the progress of the company's pipeline, Molloy sees significant gains in SRNE's future. The analyst rates the stock a Buy and his $35 price target implies a hefty 277% upside. (To watch Molloy’s track record, click here)

Overall, Sorrento currently has few, yet very positive analysts tracking its progress. With Buy ratings only – 3, in total - the stock has a Strong Buy consensus rating. There’s plenty of upside projected, too; At $28.67, the average price target suggests gains of ~209% over the next 12 months. (See SRNE stock analysis on TipRanks)

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Originally published January 25,2021

Sorrento Therapeutics, Inc. engages in the research, development and manufacture of biopharmaceutical products.
It focuses on therapies to treat specific stages in the evolution of cancer, from elimination, to equilibrium and escape which include biosimilars,
immuno-oncology antibodies, cellular therapy, cell internalizing antibodies, and antibody drug conjugates.
The company was founded by Henry H. Ji in 2006 and is headquartered in San Diego, CA.
 

SORRENTO THERAPEUTICS, INC.

4955 Directors Place

San Diego, CA 92121

Sorrento is a clinical stage, antibody-centric, biopharmaceutical company developing new therapies to treat cancers and COVID-19. Sorrento’s multimodal, multipronged approach to fighting cancer is made possible by its extensive immuno-oncology platforms, including key assets such as fully human antibodies (“G-MAB™ library”), clinical stage immuno-cellular therapies (“CAR-T”, “DAR-T™”), antibody-drug conjugates (“ADCs”), and clinical stage oncolytic virus (“Seprehvir™”). Sorrento is also developing potential antiviral therapies and vaccines against coronaviruses, including COVI-GUARD™, COVI-AMG™, COVI-SHIELD™, Gene-MAb™, COVI-MSC™ and COVI-DROPS™; and diagnostic test solutions, including COVI-TRACK™, COVI-STIX™ and COVI-TRACE™. 

Sorrento's commitment to life-enhancing therapies for patients is also demonstrated by our effort to advance a first-in-class (TRPV1 agonist) non-opioid pain management small molecule, resiniferatoxin (“RTX”), and SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (SEMDEXA™), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica, and to commercialize ZTlido® (lidocaine topical system) 1.8% for the treatment of post-herpetic neuralgia. RTX has completed a phase IB trial for intractable pain associated with cancer and a phase 1B trial in osteoarthritis patients. SEMDEXA is in a pivotal Phase 3 trial for the treatment of lumbosacral radicular pain, or sciatica. ZTlido® was approved by the FDA on February 28, 2018. 

For more information visit?www.sorrentotherapeutics.com

 
  

 
SRNE SECURITY DETAILS

Share Structure

Market Cap Market Cap
$4 billion 02/01/2021
 
Authorized Shares Not Available
 
Outstanding Shares
273 million  02/01/2021
 
16% insiders  02/01/2021
28% institutions  02/01/2021
 
Held at DTC  Not Available
 
Float  Not Available
 
Par Value  No Par Value



https://finviz.com/quote.ashx?t=srne&ty=c&ta=1&p=d



https://www.otcmarkets.com/stock/SRNE/disclosure

https://www.otcmarkets.com/stock/SRNE/news

https://www.otcmarkets.com/stock/SRNE/security

https://www.otcmarkets.com/stock/SRNE/profile

https://www.otcmarkets.com/stock/SRNE/quote

https://www.otcmarkets.com/stock/SRNE/overview





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#13990
August 2022 Corporate Presentation...very well done. dia76ca 08/25/2022 05:31:10 PM
#12862
SRNE up 596% per Motley Fool… Sorrento Therapeutics: A CharlesNet 02/08/2022 11:16:05 PM
#14126
A lot of news to be expected Tamtam 10/04/2022 06:13:37 PM
#14125
I expect news on ... dia76ca 10/04/2022 04:19:37 PM
#14124
Ever since you started posting this stock su*ks, HeadsIwin 10/04/2022 01:07:44 PM
#14123
Cat got your ?? We good .. Time is ezyE 10/03/2022 09:56:14 PM
#14122
Wow, great day for the markets....oh wait... Brandywhitneylady 10/03/2022 09:51:21 PM
#14121
Lol,people as you say have the right ezyE 10/03/2022 07:39:58 AM
#14120
People that listened to a lying CEO. Brandywhitneylady 10/02/2022 09:26:39 PM
#14119
Not like the shorter on this site . Who ezyE 10/02/2022 03:41:58 PM
#14117
No, a realist, not like the pumping dreamers Brandywhitneylady 10/01/2022 05:54:14 PM
#14116
Lol,not likely and the market is down. Manipulator ezyE 09/30/2022 07:55:17 PM
#14115
Another $41 million borrowed? Maybe to bring Brandywhitneylady 09/30/2022 05:17:14 PM
#14114
Lol, just buy them before you lose ezyE 09/29/2022 06:17:07 PM
#14113
$SNRE Total Debt $204.61 Million! RUN $.001 coming BottomBounce 09/29/2022 06:06:41 PM
#14112
$SRNE $.0001 coming BottomBounce 09/29/2022 06:05:43 PM
#14111
Nothing to fear but losing money because ezyE 09/29/2022 12:20:12 PM
#14110
I would think it's a time to buy ezyE 09/29/2022 10:32:33 AM
#14109
8K is out ... runcaly 09/29/2022 09:13:38 AM
#14108
1776, These points do worry me - you bring Andecker 09/27/2022 09:19:31 PM
#14107
Wouldn't it be more logical for ezyE 09/27/2022 08:26:17 AM
#14106
With all this earth shattering news....will we see Brandywhitneylady 09/26/2022 07:02:14 PM
#14105
Dia76, in support of your post. Jesspro 09/26/2022 02:33:53 PM
#14104
I am a senior and I know dozens dia76ca 09/26/2022 10:48:04 AM
#14103
A huge majority of people here in the 1776club 09/23/2022 05:35:27 PM
#14102
Never stop being positive ezyE 09/23/2022 01:28:28 AM
#14101
Dia - I really hope you are 3/4 Andecker 09/22/2022 09:56:00 PM
#14100
Agreed - appears some want this chaos. Andecker 09/22/2022 09:54:10 PM
#14099
Thanks for your input and thoughts 1776. Andecker 09/22/2022 09:36:17 PM
#14098
SORRENTO is pregnant and ready to pop over dia76ca 09/22/2022 06:26:31 PM
#14097
Make that a Trillion in interest payments. 1776club 09/22/2022 11:05:52 AM
#14096
Yea, I bought more and watching to see 1776club 09/22/2022 10:30:26 AM
#14095
Hi Andecker, my concern is capital to continue 1776club 09/22/2022 10:23:32 AM
#14094
They took it down. 1776club 09/22/2022 09:35:26 AM
#14093
Interesting article - author is spot on IMO: Andecker 09/21/2022 10:14:20 PM
#14092
Hello 1776 and Others, Andecker 09/21/2022 09:34:46 PM
#14091
Lol,we are good . ezyE 09/21/2022 06:07:36 PM
#14090
A barrage of “fluff” will be needed to Brandywhitneylady 09/21/2022 05:57:03 PM
#14088
The question is will this be above or 1776club 09/21/2022 04:05:09 PM
#14087
Would love some cotton candy ezyE 09/21/2022 05:36:27 AM
#14086
Need more Ji-fluff. Brandywhitneylady 09/21/2022 12:13:54 AM
#14085
What happened to the buyers wake -up ezyE 09/20/2022 04:35:47 PM
#14084
“On September 12, 2022, Scilex entered into Amendment StockLogistics 09/17/2022 01:38:43 PM
#14083
Merger in November I think, 1.30 gap fill StockLogistics 09/17/2022 01:33:21 PM
#14082
There ya go Zchef 09/16/2022 03:44:56 PM
#14081
Srne for the win . Get them cheap ezyE 09/16/2022 02:41:34 PM
#14080
...and what is your point? Just asking. 1776club 09/16/2022 11:20:19 AM
#14079
Glad you read it and yes, they are. 1776club 09/16/2022 11:18:04 AM
#14078
Yuck, yuck. 1776club 09/16/2022 11:15:22 AM
#14077
COVISHIELD, COVIDROPS and Mpro could be important in dia76ca 09/16/2022 11:01:34 AM
#14076
“3:35p ET 9/15/2022 - Benzinga StockLogistics 09/16/2022 07:55:16 AM
#14075
17, Brandywhitneylady 09/15/2022 10:48:35 PM
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