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SRNE

Sorrento Therapeutics

$3.41

0.06 (1.79%)

07:04
01/10/20
01/10
07:04
01/10/20
07:04

Sorrento receives non-binding acquisition proposal for up to $7.00 per share

Sorrento Therapeutics announced that on January 9, 2020, it received a non-binding proposal from a private equity fund to acquire a majority or all of the issued and outstanding shares of the Company for up to $7.00 per share. Consistent with its fiduciary responsibilities, the Company's Board of Directors is carefully reviewing the proposal with the assistance of its advisors to determine the course of action it believes is in the best interests of the Company and its stockholders. There is no assurance that any transaction will occur. Sorrento stockholders are not required to take any action at this time.

SRNE Sorrento Therapeutics
$3.41

0.06 (1.79%)

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.
07/23/19
HCWC
07/23/19
NO CHANGE
Target $30
HCWC
Buy
Sorrento Therapeutics price target lowered to $30 from $40 at H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju lowered his price target for Sorrento Therapeutics to $30 from $40 to reflect dilution from the company's sale of 8.3M shares at $3.00. He views resiniferatoxin as one of the most promising projects in Sorrento's pipeline and reiterates a Buy rating on the shares, however.
10/07/19
JMPS
10/07/19
INITIATION
Target $21
JMPS
Outperform
Sorrento Therapeutics initiated with an Outperform at JMP Securities
JMP Securities analyst Donald Ellis initiated Sorrento Therapeutics with an Outperform rating and a price target of $21. The analyst cites the company's "attractive asset" Resiniferatoxin being ready for Phase 2/3 trials, which is targeting a multi-million patient markets in non-opioid pain therapy. Ellis also points to Sorrento seeking an FDA "breakthrough designation" for total knee arthroplasty deferment which, if granted, will initiate registration trials in Q1 of next year.

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