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Fly News Breaks for July 29, 2015
NK, SRNE
Jul 29, 2015 | 07:59 EDT
Brean Capital raised its price target on Sorrento Therapeutics (SRNE) to $26 from $17 as they believe the successful Nantkwest (NK) IPO has validated the company and its strategy. The firm noted Sorrento is an equal partner in the ownership of Nantkwest and thus feels it deserves a similar valuation, which is not priced in. Brean Capital reiterated its Buy rating on Sorrento shares.
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