Sorrento Therapeutics Inc. (NASDAQ:SRNE) trading with an addition of $0.19 to $6.86 on Thursday, an upside of 2.92 percent. An average of 2,687,752 shares of common stock have been traded in the last five days. There was a gain of $0.29 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 4,970,298 shares traded, while the 50-day average volume stands at 4,804,303.
SRNE stock has decreased by -14.92% in the last month. The company shares reached their 1-month lowest point of $6.14 on 10/05/21. With the stock rallying to its 52-week high on 02/08/21, shares of the company touched a low of $5.17 and a high of $17.25 in 52 weeks. It has reached a new high 9 times so far this year and lost -2.27% or $0.08 in price. In spite of this, the price is down -60.20% from the 52-week high.
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17 days have passed since Sorrento Therapeutics Inc. (SRNE) last reported insider trading activity. Janda Kim, who is Director, most recently acquired $42,357 shares at $8.02 per share on Sep 27. In this transaction, the insider spent $339,720. Director, Janda Kim, disposed of 8,000 shares at a price of $8.04 on Sep 13. The insider now owns more than $64,285 worth of shares. Prior to that, Director Janda Kim went on to Sale 1,900 shares at $6.97 each on Apr 12. An amount of $13,251 was transacted.
Sorrento Therapeutics Inc. (SRNE) has a trailing price-to-earnings (P/E) ratio of 34.65 for the broader industry and 32.79 for the sector. In the last five years, Sorrento Therapeutics Inc.’s PE ratio has ranged between 248.75 and 43.18. The stock’s beta is 2.32. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 40.35, the price-to-book (PB) ratio at 10.42.
The quick ratio of Sorrento Therapeutics Inc. for the three months ended June 29 was 0.80, and the current ratio was 0.90, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.44 and a total debt to equity ratio of 0.60 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 77.00% against a 5-year average of 78.1%. Sorrento Therapeutics Inc.’s EBITDA margin for the year ending June 29 is -467.21%. Its gross profit as reported stood at $30.05 million compared to revenue of $39.99 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Sorrento Therapeutics Inc.’s return on assets was -50.50%, compared to -31.3% over the last five years. In the past year, the return on investment has been -104.90%, and the 5-year average is -44.5%. Meanwhile, the return on equity (ROE) for the past 12 months has been -162.20% and the 5-year average holds at -119.0%. For the broader industry, ROE averaged -68.79 over the past year.
For the three-month period that ended June 29, Sorrento Therapeutics Inc. had $34.41 million in cash and short-term investments compared to $82.57 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$166.62 million in the quarter, while revenues of $2.51 million were grew 53.34%. The analyst consensus anticipated Sorrento Therapeutics Inc.’s latest quarter earnings to come in at -$0.2 per share, but it turned out to be -$0.57, a -185.00% surprise. For the quarter, EBITDA amounted to -$97.41 million. Shareholders own equity worth $298.1 million.
From a technical analysis perspective, let’s take a brief look at Sorrento Therapeutics Inc. (SRNE) price momentum. RSI 9-day as of the close on 13 October was 46.25%, suggesting the stock is Neutral, with historical volatility in this time frame at 49.71%.
As of today, SRNE’s price is $6.61 +4.39% or $0.29 from its 5-day moving average. SRNE is currently trading -14.60% lower than its 20-day SMA and -3.90% lower than its 100-day SMA. However, the stock’s current price level is -16.16% below the SMA50 and +0.44% above the SMA200.
The stochastic %K and %D were 27.02% and 21.31%, respectively, and the average true range (ATR) was 0.31. With the 14-day stochastic at 36.89% and the average true range at 0.34, the RSI (14) stands at 42.08%. The stock has reached 0.17 on the 9-day MACD Oscillator while the 14-day reading was at -0.18.
B. Riley Securities launched coverage on Sorrento Therapeutics Inc. (NASDAQ: SRNE) in its analyst report released on January 29, 2021. The firm assigned the stock a a Buy rating.The consensus rating for Sorrento Therapeutics Inc. (SRNE) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SRNE, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.
What is SRNE’s price target for the next 12 months?
Analysts predict a range of price targets between $19.00 and $26.00, with a median target of $22.50. Taking a look at these predictions, the average price target given by analysts for Sorrento Therapeutics Inc. (SRNE) stock is $22.50.