Sorrento Therapeutics, Inc. (NASDAQ:SRNE) has a beta value of 2.89 and has seen 47,653,943 shares traded in the last trading session. The company, currently valued at $1.9 Billion, closed the last trade at $7.45 per share which meant it gained $1.13 on the day or 17.88% during that session. The SRNE stock price is -160.27% off its 52-week high price of $19.39 and 81.34% 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 18.77 Million shares traded. The 3-month trading volume is 40.1 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 -$0.2.
Sorrento Therapeutics, Inc. (NASDAQ:SRNE) trade information
Sporting 17.88% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Monday, Sep 14 when the SRNE stock price touched $7.84-4 or saw a rise of 4.97%. Year-to-date, Sorrento Therapeutics, Inc. shares have moved 120.41%, while the 5-day performance has seen it change 13.39%. Over the past 30 days, the shares of Sorrento Therapeutics, Inc. (NASDAQ:SRNE) have changed -40.11%. Short interest in the company has seen 73.35 Million shares shorted with days to cover at 1.83.
Wall Street analysts have a consensus price target for the stock at $25.5, which means that the shares’ value could jump 242.28% from current levels. The projected low price target is $21 while the price target rests at a high of $30. In that case, then, we find that the current price level is +302.68% off the targeted high while a plunge would see the stock lose 181.88% 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 +346.11% over the past 6 months, with this year growth rate of -333.96%, compared to 13.6% 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 60% and 1512.2% for the next quarter. Revenue growth from the last financial year stood is estimated to be +6412%.
2 analysts offering their estimates for the company have set an average revenue estimate of $10.31 Million for the current quarter. 2 have an estimated revenue figure of $2.02 Billion for the next quarter concluding in December 01, 2020. Year-ago sales stood $5.78 Million and $13.03 Million respectively for this quarter and the next, and analysts expect sales will grow by 78.4% for the current quarter and 15400.2% 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%.