Sorrento Therapeutics (SRNE - Free Report) closed at $7.03 in the latest trading session, marking a -0.57% move from the prior day. This move lagged the S&P 500's daily gain of 0.57%. At the same time, the Dow added 1.44%, and the tech-heavy Nasdaq lost 0.61%.
Coming into today, shares of the biopharmaceutical company had lost 10.51% in the past month. In that same time, the Medical sector lost 0.91%, while the S&P 500 gained 0.83%.
Wall Street will be looking for positivity from SRNE as it approaches its next earnings report date. On that day, SRNE is projected to report earnings of $5.79 per share, which would represent year-over-year growth of 1512.2%. Meanwhile, our latest consensus estimate is calling for revenue of $2.02 billion, up 15404.99% from the prior-year quarter.
Any recent changes to analyst estimates for SRNE should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SRNE is currently a Zacks Rank #3 (Hold).
Investors should also note SRNE's current valuation metrics, including its Forward P/E ratio of 2.05. This represents a discount compared to its industry's average Forward P/E of 23.45.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 23% 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.
To follow SRNE in the coming trading sessions, be sure to utilize Zacks.com.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Sorrento Therapeutics (SRNE - Free Report) closed at $7.03 in the latest trading session, marking a -0.57% move from the prior day. This move lagged the S&P 500's daily gain of 0.57%. At the same time, the Dow added 1.44%, and the tech-heavy Nasdaq lost 0.61%.
Coming into today, shares of the biopharmaceutical company had lost 10.51% in the past month. In that same time, the Medical sector lost 0.91%, while the S&P 500 gained 0.83%.
Wall Street will be looking for positivity from SRNE as it approaches its next earnings report date. On that day, SRNE is projected to report earnings of $5.79 per share, which would represent year-over-year growth of 1512.2%. Meanwhile, our latest consensus estimate is calling for revenue of $2.02 billion, up 15404.99% from the prior-year quarter.
Any recent changes to analyst estimates for SRNE should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SRNE is currently a Zacks Rank #3 (Hold).
Investors should also note SRNE's current valuation metrics, including its Forward P/E ratio of 2.05. This represents a discount compared to its industry's average Forward P/E of 23.45.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 23% 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.
To follow SRNE in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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