Analysts’ recommendations and target price
Wall Street analysts expect a potential upside of 295.22% for Sorrento Therapeutics (SRNE) based on the stock’s closing price on March 21.
Analysts revised the company’s target price downward from $21.67 in January to $20.17 in February and then raised it to $20.67 in March. The current consensus analyst recommendation for the stock is a “buy.”
Of the three analysts covering Sorrento Therapeutics, two have given it “strong buys,” and the remaining analyst has given it a “buy.” The highest target price estimate for the company is $40, and the lowest is $10.
On March 21, Sorrento Therapeutics closed at $5.23, 49.86% higher than its previous closing price, 190.56% higher than its 52-week low of $1.80, and 38.11% lower than its 52-week high of $8.45. The company’s market cap is $666.88 million.
Based on its closing price on March 21, Sorrento Therapeutics has reported returns of 115.23% in the last week, 135.59% in the last month, and 134.53% in the last quarter. The company has reported returns of 20.23% in the last half year, -35.03% in the last year, and 117.92% year-to-date.
Revenue and EPS estimates
In its fourth quarter, Sorrento Therapeutics reported revenue of $6.93 million, a YoY (year-over-year) fall of 66.05% but $3.42 million higher than the consensus estimate. The company reported non-GAAP (generally accepted accounting principles) EPS of -$0.41 and missed the consensus estimate by $0.13.
Analysts expect Sorrento Therapeutics’ revenue to see YoY rises of 12.95% to $7.06 million in the first quarter, 100.33% to $7.84 million in the second quarter, 124.90% to $9.23 million in the third quarter, and 68.32% to $11.66 million in the fourth quarter of 2019. Analysts also expect Sorrento Therapeutics’ non-GAAP EPS to see YoY rises of 22.81% to -$0.29 in the first quarter, 2.30% to -$0.28 in the second quarter, 26.67% to -$0.29 in the third quarter, and 33.33% to -$0.27 in the fourth quarter.
Analysts expect Sorrento Therapeutics’ revenue to see YoY rises of 67.02% to $35.40 million in 2019, 199.24% to $105.92 million in 2020, and 117.41% to $230.28 million in 2021. Analysts also expect Sorrento Therapeutics’ non-GAAP EPS to see YoY rises of 40.80% to -$1.14 in 2019, 35.78% to -$0.73 in 2020, and 69.18% to -$0.23 in 2021.