Oppenheimer Holdings Research Analysts Lower Earnings Estimates for Sorrento Therapeutics, Inc. (SRNE)

Sorrento Therapeutics, Inc. (NASDAQ:SRNE) – Analysts at Oppenheimer Holdings lowered their Q1 2018 EPS estimates for shares of Sorrento Therapeutics in a research report issued to clients and investors on Wednesday. Oppenheimer Holdings analyst M. Breidenbach now forecasts that the biopharmaceutical company will post earnings of ($0.29) per share for the quarter, down from their prior estimate of $0.02. Oppenheimer Holdings currently has a “Buy” rating and a $6.00 price target on the stock. Oppenheimer Holdings also issued estimates for Sorrento Therapeutics’ Q2 2018 earnings at ($0.28) EPS, Q3 2018 earnings at ($0.26) EPS, Q4 2018 earnings at ($0.24) EPS, FY2018 earnings at ($1.06) EPS, Q1 2019 earnings at ($0.22) EPS, Q2 2019 earnings at ($0.19) EPS, Q3 2019 earnings at ($0.20) EPS, FY2019 earnings at ($0.81) EPS, FY2020 earnings at ($0.21) EPS and FY2021 earnings at $0.24 EPS.

Several other equities analysts also recently commented on SRNE. UBS AG initiated coverage on shares of Sorrento Therapeutics in a research note on Thursday, August 3rd. They set an “outperform” rating and a $7.00 price objective for the company. 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 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Sorrento Therapeutics in a research note on Thursday, August 24th. Six analysts have rated the stock with a buy rating, Sorrento Therapeutics has an average rating of “Buy” and an average target price of $11.50.

TRADEMARK VIOLATION NOTICE: This report was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright and trademark law. The original version of this report can be read at https://sportsperspectives.com/2017/11/18/oppenheimer-holdings-research-analysts-lower-earnings-estimates-for-sorrento-therapeutics-inc-srne.html.

Sorrento Therapeutics (NASDAQ SRNE) opened at $2.45 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.54 and a current ratio of 0.54. Sorrento Therapeutics has a one year low of $1.50 and a one year high of $6.38.

Several hedge funds and other institutional investors have recently made changes to their positions in SRNE. Dimensional Fund Advisors LP increased its position in shares of Sorrento Therapeutics by 408.4% during the second quarter. Dimensional Fund Advisors LP now owns 51,889 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 41,683 shares during the period. KCG Holdings Inc. purchased a new position in shares of Sorrento Therapeutics during the first quarter valued at about $108,000. JPMorgan Chase & Co. increased its position in shares of Sorrento Therapeutics by 139.0% during the third quarter. JPMorgan Chase & Co. now owns 76,169 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 44,294 shares during the period. Matrix Asset Advisors Inc. NY increased its position in shares of Sorrento Therapeutics by 227.3% during the second quarter. Matrix Asset Advisors Inc. NY now owns 72,000 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 50,000 shares during the period. Finally, LMR Partners LLP purchased a new position in shares of Sorrento Therapeutics during the second quarter valued at about $177,000. Institutional investors own 15.83% of the company’s stock.

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.

Earnings History and Estimates for Sorrento Therapeutics (NASDAQ:SRNE)

Receive News & Ratings for Sorrento Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sorrento Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply