Target $24.00; H.C. Wainwright Sticks to Their Buy Rating for Sorrento Therapeutics
May 11, 2020 10:56AM ET
TARGET $24.00 https://www.investing.com/news/hc-wainwright-sticks-to-their-buy-rating-for-sorrento-therapeutics-2168120
H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Sorrento Therapeutics (NASDAQ:SRNE) on Monday, setting a price target of $24,
which is approximately 823.08% above the present share price of $2.6.
Selvaraju expects Sorrento Therapeutics to post earnings per share (EPS) of -$0.37 for the second quarter of 2020.
The current consensus among 1 TipRanks analysts is for a Moderate Buy rating of shares in Sorrento Therapeutics, with an average price target of $24.
The analysts price targets range from a high of $24 to a low of $24.
In its latest earnings report, released on 12/31/2019, the company reported a quarterly revenue of $13.03 million and a net profit of -$43.77 million.
The company's market cap is $545.2 million.
According to TipRanks.com, H.C. Wainwright analyst Ram Selvaraju is a 5-star analyst with an average return of 22.1% and a 55.8% success rate.
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.