Sorrento Therapeutics Could Jump Another 215% says Analyst

Disclaimer: This post does not constitute financial advice. Author has no position in Sorento. Do your own due diligence before making an investment.

H.C. Wainwright analyst Ram Selvaraju gave SRNE a buy rating, with a price target of $30.

Selvaraju likes Sorrento’s “burgeoning portfolio of assets spanning three distinct therapeutic areas (non-opioid pain management, oncology, and COVID-19).”

Sorrento has 11 different Covid-19 programs running. (From their website)

Unlike other companies, Sorrento is deeply diversified in fighting Covid-19. They’ve got testing products, antibodies, antivirals, and treatments for one of the deadliest aspects of Covid-19, the cytokine storm.

The stock is quite volatile, with a 52-week-range of $1.55 to $19.39. Although this is not uncommon for companies with less than 5 billion in market cap.

Here’s a one-year chart.

@YahooFinance

Quite a lot of spikes. Tread carefully if you get involved in any pops. Definitely want to keep those trailing stop-losses handy.

Last December was a busy month for Sorrento. They applied for an EUA (Emergency Use Authorization) with the FDA for their COVI-STIX rapid diagnostic test. [Source]

They also got the okay from the FDA to proceed with a phase 1 trial of STI-2020 (COVI-AMGTM). “The trials will evaluate the safety, pharmacokinetics and efficacy of a single injection of STI-2020 in healthy volunteers and outpatient COVID-19 patients with mild symptoms.” [Source]

Here’s what some users on stock message boards are saying:

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@YahooFinance

@Stocktwits

@Stocktwits