Sorrento Therapeutics Receives a Buy from H.C. Wainwright

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Sorrento Therapeutics (NASDAQ: SRNE), with a price target of $40. The company’s shares closed yesterday at $6.35.

According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -7.4% and a 35.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

Sorrento Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $25.

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The company has a one-year high of $10.65 and a one-year low of $1.50. Currently, Sorrento Therapeutics has an average volume of 3.62M.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is neutral on the stock.

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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.

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