In a report issued on July 20, Jason Kolbert from Dawson James maintained a Buy rating on Sorrento Therapeutics (SRNE – Research Report), with a price target of $16.00. The company’s shares closed last Friday at $2.60.
According to TipRanks.com, Kolbert is a 1-star analyst with an average return of -1.5% and a 37.1% success rate. Kolbert covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Lineage Cell Therapeutics, and Citius Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sorrento Therapeutics with a $16.00 average price target.
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Based on Sorrento Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $18.39 million and GAAP net loss of $40.82 million. In comparison, last year the company earned revenue of $14.26 million and had a net profit of $2.51 million.
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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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