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Very large target prices coming in on SRNE currently at $1.90. Some of the largest around with an average target of $20. No doubt that there is an inside scoop of big things happening.
Sorrento Therapeutics (NASDAQ: SRNE)
FBR Capital analyst Edward White reiterated a Buy rating on Sorrento Therapeutics (NASDAQ: SRNE) yesterday. The company’s shares opened today at $1.90, close to its 52-week low of $1.50.
According to TipRanks.com, White is a 2-star analyst with an average return of 0.3% and a 43.5% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and RXi Pharmaceuticals Corp.
Currently, the analyst consensus on Sorrento Therapeutics is Moderate Buy and the average price target is $20, representing a 952.6% upside.
In a report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $20 price target.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions.
Note -- The Wall Street Jo0urnal is also issuing a target of $20.
Any thoughts? Seems like big things are happening, or are about to happen.
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