The Sorrento Therapeutics Inc (SRNE) PT Set at $20.00 by HC Wainwright

The Sorrento Therapeutics Inc (SRNE) PT Set at $20.00 by HC Wainwright

SRNE has been the topic of a number of other research reports. FBR & Co reiterated a “buy” rating on shares of Sorrento Therapeutics in a report on Tuesday, April 4th. Rodman & Renshaw decreased their price target on shares of Sorrento Therapeutics from $30.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, May 22nd. Five analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $15.80.

Sorrento Therapeutics Inc (NASDAQ:SRNE) has been given a $20.00 price target by equities researchers at HC Wainwright in a research note issued to investors on Monday, May 22nd. The firm presently has a “buy” rating on the biopharmaceutical company’s stock.

Shares of Sorrento Therapeutics (NASDAQ SRNE) opened at 1.65 on Monday. The company’s market capitalization is $124.26 million. Sorrento Therapeutics has a 12-month low of $1.50 and a 12-month high of $8.35. The firm has a 50-day moving average price of $1.74 and a 200 day moving average price of $4.18.

In related news, CEO Henry Ji bought 100,000 shares of the company’s stock in a transaction dated Wednesday, April 19th. The stock was bought at an average price of $2.00 per share, with a total value of $200,000.00. Following the transaction, the chief executive officer now owns 139,776 shares of the company’s stock, valued at $279,552. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Abg Management Ltd bought 2,500,000 shares of the company’s stock in a transaction dated Thursday, April 13th. The stock was bought at an average cost of $2.00 per share, with a total value of $5,000,000.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,150,000 shares of company stock worth $6,300,000 in the last ninety days. 7.60% of the stock is currently owned by insiders. Large investors have recently added to or reduced their stakes in the company. Vident Investment Advisory LLC bought a new stake in Sorrento Therapeutics during the fourth quarter valued at $696,000. State Street Corp increased its stake in Sorrento Therapeutics by 6.0% in the fourth quarter. State Street Corp now owns 514,597 shares of the biopharmaceutical company’s stock valued at $2,519,000 after buying an additional 29,076 shares during the last quarter. Bank of America Corp DE increased its stake in Sorrento Therapeutics by 2.0% in the first quarter. Bank of America Corp DE now owns 152,179 shares of the biopharmaceutical company’s stock valued at $601,000 after buying an additional 3,057 shares during the last quarter. KCG Holdings Inc. acquired a new stake in shares of Sorrento Therapeutics during the first quarter worth $108,000. Finally, Geode Capital Management LLC increased its stake in shares of Sorrento Therapeutics by 3.8% in the first quarter. Geode Capital Management LLC now owns 366,928 shares of the biopharmaceutical company’s stock worth $1,449,000 after buying an additional 13,495 shares in the last quarter. 25.47% of the stock is owned by institutional investors.

Sorrento Therapeutics Company Profile Sorrento Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in the discovery, acquisition, development and commercialization of drug therapeutics. Its primary therapeutic focus is oncology, including the treatment of chronic cancer pain. It is also developing therapeutic products for other indications, including immunology and infectious diseases.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SRNE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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