Sorrento Therapeutics, Inc. (NASDAQ:SRNE) has been given a $6.00 price target by equities researchers at Oppenheimer Holdings, Inc. in a research report issued on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer Holdings, Inc.’s price objective would suggest a potential upside of 160.87% from the company’s previous close.

Several other research firms have also recently weighed in on SRNE. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Sorrento Therapeutics in a research note on Monday, September 18th. Roth Capital initiated coverage on shares of Sorrento Therapeutics in a research note on Thursday, August 3rd. They set a “buy” rating and a $7.00 target price for the company. Finally, UBS AG initiated coverage on shares of Sorrento Therapeutics in a research report on Thursday, August 3rd. They set an “outperform” rating and a $7.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, Sorrento Therapeutics has a consensus rating of “Buy” and an average target price of $11.50.

Sorrento Therapeutics (NASDAQ:SRNE) opened at $2.30 on Wednesday. Sorrento Therapeutics has a 52 week low of $1.50 and a 52 week high of $6.60. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.18.

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A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Sorrento Therapeutics by 25.3% during the second quarter. Vanguard Group Inc. now owns 1,930,524 shares of the biopharmaceutical company’s stock valued at $3,861,000 after purchasing an additional 389,258 shares during the last quarter. Intellectus Partners LLC lifted its position in Sorrento Therapeutics by 44.7% during the second quarter. Intellectus Partners LLC now owns 1,585,840 shares of the biopharmaceutical company’s stock valued at $3,172,000 after purchasing an additional 490,000 shares during the last quarter. Geode Capital Management LLC lifted its position in Sorrento Therapeutics by 3.8% during the first quarter. Geode Capital Management LLC now owns 366,928 shares of the biopharmaceutical company’s stock valued at $1,449,000 after purchasing an additional 13,495 shares during the last quarter. Virtu KCG Holdings LLC lifted its position in Sorrento Therapeutics by 497.7% during the second quarter. Virtu KCG Holdings LLC now owns 163,931 shares of the biopharmaceutical company’s stock valued at $328,000 after purchasing an additional 136,506 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in Sorrento Therapeutics during the second quarter valued at $306,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

About Sorrento Therapeutics

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.

Analyst Recommendations for Sorrento Therapeutics (NASDAQ:SRNE)

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