Sorrento Therapeutics, Inc. (NASDAQ:SRNE) has a beta value of 3.15 and has seen 4,857,786 shares traded in the recent trading session. The company, currently valued at $1.26 Billion, closed the recent trade at $6.03 per share which meant it lost -$0.1 on the day or -1.55% during that session. The SRNE stock price is -65.84% off its 52-week high price of $10 and 76.95% above the 52-week low of $1.39. If we look at the company’s 10-day average daily trading volume, we find that it stood at 30.7 Million shares traded. The 3-month trading volume is 31.35 Million shares.
The consensus among analysts is that Sorrento Therapeutics, Inc. (SRNE) is a Buy stock at the moment, with a recommendation rating of 2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 2 have rated it as a Hold, with 2 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.23.
Sorrento Therapeutics, Inc. (NASDAQ:SRNE) trade information
Despite being -1.47% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Jun 25 when the SRNE stock price touched $7.22-1 or saw a rise of 16.9%. Year-to-date, Sorrento Therapeutics, Inc. shares have moved 77.51%, while the 5-day performance has seen it change 17.18%. Over the past 30 days, the shares of Sorrento Therapeutics, Inc. (NASDAQ:SRNE) have changed 18.81%. Short interest in the company has seen 41.26 Million shares shorted with days to cover at 1.32.
Wall Street analysts have a consensus price target for the stock at $24, which means that the shares’ value could jump 298.01% from current levels. The projected low price target is $24 while the price target rests at a high of $24. In that case, then, we find that the current price level is +298.01% off the targeted high while a plunge would see the stock lose 298.01% from current levels.
Sorrento Therapeutics, Inc. (SRNE) estimates and forecasts
Figures show that Sorrento Therapeutics, Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +81.85% over the past 6 months, with this year growth rate of -52.83%, compared to 9.3% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 50% and 56% for the next quarter. Revenue growth from the last financial year stood is estimated to be -7.3%.
1 analysts offering their estimates for the company have set an average revenue estimate of $8Million for the current quarter. 1 have an estimated revenue figure of $11.53 Million for the next quarter concluding in September 01, 2020. Year-ago sales stood $7.75 Million and $5.78 Million respectively for this quarter and the next, and analysts expect sales will grow by 3.2% for the current quarter and 99.6% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -11.1% over the past 5 years. Earnings growth for 2020 is a modest -14.8% while over the next 5 years, the company’s earnings are expected to increase by 37%.