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Sorrento (SRNE) Jumps: Stock Adds 11.0% in Session

Zacks Equity Research

Sorrento Therapeutics, Inc. (SRNE) was a big mover last session with its shares rising just over 11% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the past one month’s volatile price range of $9.19 to $10.37.

This biopharmaceutical company has witnessed no estimate revision in the last 30 days. The Zacks Consensus Estimate hasn’t been in trend either. Yesterday’s rally is encouraging though, so make sure to keep a close watch on this firm in the near future.

Sorrento currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Better-ranked Medical Product stocks include Enzymotec Ltd. (ENZY), Covidien plc (COV) and Stryker Corp. (SYK). While Enzymotec sports a Zacks Rank #1 (Strong Buy), Covidien and Stryker bear a Zacks Rank #2 (Buy).

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