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Sorrento Therapeutics (SRNE) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Sorrento Therapeutics (SRNE - Free Report) closed at $10.97, marking a -0.32% move from the previous day. This change lagged the S&P 500's 1.14% gain on the day. Meanwhile, the Dow gained 1.35%, and the Nasdaq, a tech-heavy index, added 0.99%.
Prior to today's trading, shares of the biopharmaceutical company had gained 38.15% over the past month. This has outpaced the Medical sector's loss of 3.27% and the S&P 500's gain of 1.2% in that time.
Wall Street will be looking for positivity from SRNE as it approaches its next earnings report date. In that report, analysts expect SRNE to post earnings of -$0.23 per share. This would mark year-over-year growth of 43.9%. Meanwhile, our latest consensus estimate is calling for revenue of $1.01 billion, up 7665.82% from the prior-year quarter.
SRNE's full-year Zacks Consensus Estimates are calling for earnings of -$1.23 per share and revenue of $1.04 billion. These results would represent year-over-year changes of +41.98% and +2500.16%, respectively.
It is also important to note the recent changes to analyst estimates for SRNE. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 32.34% lower within the past month. SRNE is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, SRNE is holding a Forward P/E ratio of 9.59. This valuation marks a discount compared to its industry's average Forward P/E of 24.44.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Sorrento Therapeutics (SRNE) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Sorrento Therapeutics (SRNE - Free Report) closed at $10.97, marking a -0.32% move from the previous day. This change lagged the S&P 500's 1.14% gain on the day. Meanwhile, the Dow gained 1.35%, and the Nasdaq, a tech-heavy index, added 0.99%.
Prior to today's trading, shares of the biopharmaceutical company had gained 38.15% over the past month. This has outpaced the Medical sector's loss of 3.27% and the S&P 500's gain of 1.2% in that time.
Wall Street will be looking for positivity from SRNE as it approaches its next earnings report date. In that report, analysts expect SRNE to post earnings of -$0.23 per share. This would mark year-over-year growth of 43.9%. Meanwhile, our latest consensus estimate is calling for revenue of $1.01 billion, up 7665.82% from the prior-year quarter.
SRNE's full-year Zacks Consensus Estimates are calling for earnings of -$1.23 per share and revenue of $1.04 billion. These results would represent year-over-year changes of +41.98% and +2500.16%, respectively.
It is also important to note the recent changes to analyst estimates for SRNE. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 32.34% lower within the past month. SRNE is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, SRNE is holding a Forward P/E ratio of 9.59. This valuation marks a discount compared to its industry's average Forward P/E of 24.44.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.