Somewhat Positive Press Coverage Somewhat Unlikely to Impact Sorrento Therapeutics (SRNE) Stock Price

News articles about Sorrento Therapeutics (NASDAQ:SRNE) have been trending somewhat positive recently, Accern reports. The research firm scores the sentiment of press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Sorrento Therapeutics earned a daily sentiment score of 0.08 on Accern’s scale. Accern also assigned media coverage about the biopharmaceutical company an impact score of 46.0170142203403 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

Here are some of the headlines that may have effected Accern Sentiment’s rankings:

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Shares of SRNE stock opened at $6.90 on Friday. The firm has a market capitalization of $708.22, a P/E ratio of -13.53 and a beta of 2.05. Sorrento Therapeutics has a 1 year low of $1.50 and a 1 year high of $10.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.38 and a quick ratio of 0.54.

SRNE has been the topic of a number of analyst reports. BidaskClub raised Sorrento Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, March 14th. HC Wainwright set a $38.00 price target on Sorrento Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, March 6th. Oppenheimer reaffirmed a “buy” rating and issued a $9.00 price target on shares of Sorrento Therapeutics in a research note on Friday, January 19th. Finally, ValuEngine raised Sorrento Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Sorrento Therapeutics has a consensus rating of “Buy” and an average price target of $15.00.

In other news, major shareholder Abg Management Ltd sold 70,721 shares of Sorrento Therapeutics stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $8.00, for a total value of $565,768.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Pacific Medtech (Bvi) Ltd Asia sold 684,288 shares of Sorrento Therapeutics stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $7.56, for a total value of $5,173,217.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,215,009 shares of company stock worth $9,185,885. Corporate insiders own 5.00% of the company’s stock.

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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.

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