Sorrento Therapeutics, Inc. (NASDAQ:SRNE) traded at $6.13 at last check on Monday, June 29, making an upward move of 3.66% on its previous day’s price.
Looking at the stock we see that its previous close was $5.87 and the beta (5Y monthly) reads 3.15 with the day’s price range being $5.78 – 6.19. In terms of its 52-week price range, SRNE has a high of $10 and a low of $1.39. The company’s stock has gained about 18.59% over that past 30 days.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $8Million, with a low of $8Million and a high of $8Million. The median projection represents growth adding up to 3.2% compared to sales earnings for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecasts for 2020 are expected to hit $29.13 Million, or -7.3% down from figures reported last year.
On the other hand, looking at the outlook for the SRNE stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note that the PEG ratio for the SRNE stock currently stands at 0, and the current price level is 25.33% off its SMA20 and 50.85% from its 50-day simple moving average. The RSI (14) is pointing at 67.28 while the volatility over the past week is 1148% and drops to 9.91% over the past one month. The beta value is 3.16, while the average true range (ATR) is currently pointing at 0.61. The average price target for the stock over the next 12 months is $24, with the estimates having a low of $24 and a high of $24. These price ends are 291.52% and +291.52% off the current price level respectively, although investors could be excited at the prospect of a +291.52% if the SRNE share price touches on the median price of $24.
Let’s briefly compare Sorrento (SRNE) stock to its peers. We find that today’s price change of +3.66% and +73.16% over the past 12 months for SRNE betters that of Amgen Inc (AMGN), which has seen its stock price fall -0.56% in the latest trading session and is +26.53% over the last one year. Another of its peers Gilead Sciences Inc (GILD) has climbed 0.7% today, and is +11.17% up over the past year, while Vertex Pharmaceutic (VRTX) is also up 3.66% yet its price remains in the green at 73.16% over the same period. Amgen has a P/E ratio of 18.24 compared to Sorrento’s 0 and Gilead’s 19.17. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 1.81% and 1.11%, respectively, in early deals.
Coming back to Sorrento Therapeutics, Inc. (NASDAQ:SRNE), we note that the average 3-month trading volume was 31.62 Million, while that of the preceding 10-day period stands at 32.96 Million. Current shares outstanding are 209.69 Million.
According to data from Thomson Reuters, insiders hold 34.21% of the company’s shares while institutions hold 17.86%. The data shows that short shares as of June 14, 2020, stood at 41.26 Million at a short ratio of 0.56. This represents a 19.68% Short interest in Shares outstanding on June 14, 2020. Shares short rose in June from the previous month at 23.59 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock +73.67% up in year-to-date price movement.