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Sorrento Therapeutics (SRNE) in Focus: Stock Tumbles 16.5%

Zacks Equity Research

Sorrento Therapeutics, Inc. (SRNE) saw a big move in the last trading session, as the company’s shares fell by over 16% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for SRNE as the stock is now down over 45% since March 21.

Sorrento Therapeutics, a clinical stage biopharmaceutical company, has not seen any estimate revision over the past month, and its current year earnings consensus hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, especially on earnings estimates following the recent slump.

SRNE currently holds a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

Investors interested in the Medical Products industry may consider better-ranked stocks like Enzymotec Ltd. (ENZY), William Demant Holding A/S (WILYY), and Covidien plc (COV). While Enzymotec carries a Zacks Rank #1 (Strong Buy), William Demant and Covidien hold a Zacks Rank #2 (Buy).

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