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SRNE

Sorrento Therapeutics

$4.16

-0.28 (-6.31%)

14:07
04/04/19
04/04
14:07
04/04/19
14:07

Sorrento accuses business partner of 'catch and kill' plot, SDUT, reports

Jennifer Van Grove of the Sandiego Union Tribune wrote that pain and cancer focused Sorrento Therapeutics has accused its business partner Dr. Patrick Soon-Shiong of engineering a "catch and kill" plan "that ultimately prevented the release of a promising cancer drug." According to the report, Sorrento filed two lawsuits against Soon-Shiong - who owns the Los Angeles Times and San Diego Union-Tribune, asking for damages of more than $1B. "In the arbitration case, the biotech firm charges that Soon-Shiong purchased and then sought to kill Sorrento's experimental drug, Cynviloq, before it could reach market.," added the Sandiego Union Tribune. Shares of Sorrento Therapeutics are lower by over 5% in afternoon trading to $4.16 per share. Reference Link

SRNE Sorrento Therapeutics
$4.16

-0.28 (-6.31%)

06/28/18
RILY
06/28/18
INITIATION
Target $14.25
RILY
Buy
Sorrento Therapeutics initiated with a Buy at B. Riley FBR
B. Riley FBR analyst Andrew D'Silva started Sorrento Therapeutics with a Buy rating and $14.25 price target.
12/12/18
HCWC
12/12/18
NO CHANGE
HCWC
Buy
Sorrento Therapeutics has multiple catalysts in 2019, says H.C. Wainwright
2019 should represent a turning point for Sorrento Therapeutics, H.C. Wainwright analyst Raghuram Selvaraju tells investors in a research note. The analyst believes the company is in position to report "multiple value-driving clinical data catalysts" over the course of 2019, both with its pain management portfolio and its cancer immunotherapy candidates. He thinks the interest in anti-CD38 CAR-T approaches has only increased following the recently concluded American Society for Hematology annual meeting. Further, Sorrento's recent financing transactions "provide a pathway to sustainability," adds Selvaraju. He reiterates a Buy rating on the shares with a $40 price target.
03/20/19
RILY
03/20/19
NO CHANGE
Target $12
RILY
Buy
B. Riley FBR boosts Sorrento target to $12, sees 'numerous' catalysts
B. Riley FBR analyst Andrew D'Silva raised his price target for Sorrento Therapeutics to $12.00 from $10.50 and maintains a Buy rating on the shares following the company's Q4 results. Following the "strong close to 2018," the analyst lowered his cash burn estimates and pushed out projected capital raises. The top- and bottom-line beats were due to higher sales and services revenue, primarily out of Scilex Pharmaceuticals, the company's majority-owned subsidiary, as ZTlido sales were recognized a quarter earlier than expected, D'Silva tells investors in a research note. The analyst, however, continues to believe the primary driving force of Sorrento's share price is "locked in its product pipeline." With "numerous high-value opportunities" that primarily extend across immuno-oncology, pain management, and animal health, D'Silva sees a positive risk/reward on the stock.

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PRTA

Prothena

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FFIN

First Financial

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INDB

Independent Bank

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EXPO

Exponent

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SRCE

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AMNB

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LITE

Lumentum

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TRNO

Terreno Realty

$43.11

0.44 (1.03%)

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INNV

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ISRG

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ISRG

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UIHC

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W

Wayfair

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PBCT

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