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Sorrento Therapeutics (SRNE) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Sorrento Therapeutics (SRNE - Free Report) closed at $13.98, marking a -0.71% move from the previous day. This change lagged the S&P 500's daily loss of 0.03%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq lost 0.58%.
Coming into today, shares of the biopharmaceutical company had gained 51.47% in the past month. In that same time, the Medical sector gained 1.31%, while the S&P 500 gained 4.45%.
SRNE will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.23, up 43.9% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.01 billion, up 7665.82% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for SRNE. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 57.74% lower. SRNE currently has a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, SRNE is holding a Forward P/E ratio of 10.76. This valuation marks a discount compared to its industry's average Forward P/E of 28.04.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 21% 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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Sorrento Therapeutics (SRNE) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Sorrento Therapeutics (SRNE - Free Report) closed at $13.98, marking a -0.71% move from the previous day. This change lagged the S&P 500's daily loss of 0.03%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq lost 0.58%.
Coming into today, shares of the biopharmaceutical company had gained 51.47% in the past month. In that same time, the Medical sector gained 1.31%, while the S&P 500 gained 4.45%.
SRNE will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.23, up 43.9% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.01 billion, up 7665.82% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for SRNE. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 57.74% lower. SRNE currently has a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, SRNE is holding a Forward P/E ratio of 10.76. This valuation marks a discount compared to its industry's average Forward P/E of 28.04.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 21% 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.