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

News headlines about Sorrento Therapeutics (NASDAQ:SRNE) have been trending somewhat positive recently, Accern Sentiment reports. Accern ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Sorrento Therapeutics earned a coverage optimism score of 0.16 on Accern’s scale. Accern also assigned news headlines about the biopharmaceutical company an impact score of 45.3309596008766 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

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

Shares of Sorrento Therapeutics stock traded down $0.10 during trading on Thursday, hitting $5.40. 3,348,274 shares of the stock traded hands, compared to its average volume of 3,786,176. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $464.24, a PE ratio of -4.74 and a beta of 2.43. Sorrento Therapeutics has a 52 week low of $1.50 and a 52 week high of $10.65.

A number of equities analysts have weighed in on SRNE shares. HC Wainwright upped their target price on Sorrento Therapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Oppenheimer reiterated a “buy” rating and set a $9.00 price objective on shares of Sorrento Therapeutics in a research report on Friday, January 19th. BidaskClub upgraded Sorrento Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, January 6th. Finally, ValuEngine upgraded Sorrento Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.33.

In related news, major shareholder Pacific Medtech (Bvi) Ltd Asia sold 684,288 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $7.56, for a total transaction of $5,173,217.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider George K. Ng bought 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average price of $9.95 per share, with a total value of $895,500.00. Following the completion of the acquisition, the insider now directly owns 1,906,177 shares in the company, valued at $18,966,461.15. The disclosure for this purchase can be found here. Insiders have sold a total of 1,215,009 shares of company stock valued at $9,185,885 over the last 90 days. 5.00% of the stock is currently owned by company insiders.

WARNING: This report was first published by BBNS and is the sole property of of BBNS. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://baseballnewssource.com/2018/04/05/sorrento-therapeutics-srne-receives-news-sentiment-score-of-0-16/2027246.html.

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.

Insider Buying and Selling by Quarter for Sorrento Therapeutics (NASDAQ:SRNE)

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