Dawson James analyst Jason Kolbert maintained a Buy rating on Sorrento Therapeutics (NASDAQ:SRNE) on Friday, setting a price target of $21, which is approximately 232.28% above the present share price of $6.32.
Kolbert expects Sorrento Therapeutics to post earnings per share (EPS) of -$0.36 for the third quarter of 2020.
The current consensus among 2 TipRanks analysts is for a Moderate Buy rating of shares in Sorrento Therapeutics, with an average price target of $25.5.
The analysts price targets range from a high of $30 to a low of $21.
In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $7.72 million and a net profit of -$43.16 million. The company's market cap is $1.61 billion.
According to TipRanks.com, Dawson James analyst Jason Kolbert is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -8.1% and a 35.11% success rate.
Sorrento Therapeutics, Inc. engages in the research, development and manufacture of biopharmaceutical products. It focuses on therapies to treat specific stages in the evolution of cancer, from elimination, to equilibrium and escape which include biosimilars, immuno-oncology antibodies, cellular therapy, cell internalizing antibodies, and antibody drug conjugates. The company was founded by Henry H. Ji in 2006 and is headquartered in San Diego, CA.