Sorrento Therapeutics Inc. (SRNE) stock is nearly perfect except the valuation

Sorrento Therapeutics Inc. (NASDAQ: SRNE) closed the day trading at $1.01 down -5.61% from the previous closing price of $1.07. In other words, the price has decreased by -$0.0600 from its previous closing price. On the day, 12722728 shares were traded. SRNE stock price reached its highest trading level at $1.0600 during the session, while it also had its lowest trading level at $0.9618.

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For a better understanding of SRNE, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 0.80 and its Current Ratio is at 0.90. In the meantime, Its Debt-to-Equity ratio is 0.54 whereas as Long-Term Debt/Eq ratio is at 0.14.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Cantor Fitzgerald on November 02, 2022, initiated with a Overweight rating and assigned the stock a target price of $5.

On January 29, 2021, B. Riley Securities started tracking the stock assigning a Buy rating and target price of $26.

On January 21, 2021, Alliance Global Partners started tracking the stock assigning a Buy rating and target price of $35.Alliance Global Partners initiated its Buy rating on January 21, 2021, with a $35 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Sep 07 when Ji Henry bought 88,888 shares for $2.02 per share. The transaction valued at 179,349 led to the insider holds 4,765,805 shares of the business.

Ji Henry bought 55,555 shares of SRNE for $108,882 on Sep 06. The insider now owns 4,676,917 shares after completing the transaction at $1.96 per share. On Aug 26, another insider, Ji Henry, who serves as the insider of the company, bought 33,333 shares for $2.11 each. As a result, the insider paid 70,333 and bolstered with 2,121,362 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 8.41 while its Price-to-Book (P/B) ratio in mrq is 3.48.

Stock Price History:

Over the past 52 weeks, SRNE has reached a high of $1.49, while it has fallen to a 52-week low of $0.30. The 50-Day Moving Average of the stock is 1.1700, while the 200-Day Moving Average is calculated to be 1.7239.

Shares Statistics:

Over the past 3-months, SRNE traded about 22.65M shares per day on average, while over the past 10 days, SRNE traded about 10.21M shares per day. A total of 471.88M shares are outstanding, with a floating share count of 465.68M. Insiders hold about 1.00% of the company’s shares, while institutions hold 35.40% stake in the company. Shares short for SRNE as of Oct 13, 2022 were 60.67M with a Short Ratio of 131.55M, compared to 56.5M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 13.48% and a Short% of Float of 13.62%.

Earnings Estimates

Current recommendations for the stock of the company come from 1 analysts. On average, analysts expect EPS of -$0.25 for the current quarter, with a high estimate of -$0.25 and a low estimate of -$0.25, while EPS last year was -$0.57. The consensus estimate for the next quarter is -$0.26, with high estimates of -$0.26 and low estimates of -$0.26.

Analysts are recommending an EPS of between -$1.18 and -$1.18 for the fiscal current year, implying an average EPS of -$1.18. EPS for the following year is -$0.62, with 1 analysts recommending between -$0.62 and -$0.62.

Revenue Estimates

1 analysts predict $11.69M in revenue for the current quarter. It ranges from a high estimate of $11.69M to a low estimate of $11.69M. As of the current estimate, Sorrento Therapeutics Inc.’s year-ago sales were $12.06M, an estimated decrease of -3.10% from the year-ago figure. For the next quarter, 1 analysts are estimating revenue of $11.92M, a decrease of -8.80% less than the figure of -$3.10% in the same quarter last year. There is a high estimate of $11.92M for the next quarter, whereas the lowest estimate is $11.92M.

A total of 1 analysts have provided revenue estimates for SRNE’s current fiscal year. The highest revenue estimate was $53.46M, while the lowest revenue estimate was $53.46M, resulting in an average revenue estimate of $53.46M. In the same quarter a year ago, actual revenue was $52.9M, up 1.10% from the average estimate. Based on 1 analysts’ estimates, the company’s revenue will be $204.96M in the next fiscal year. The high estimate is $204.96M and the low estimate is $204.96M. The average revenue growth estimate for next year is up 283.40% from the average revenue estimate for this year.