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Sorrento Therapeutics (SRNE) Soars: Stock Up 8.6%

Zacks Equity Research

Sorrento Therapeutics, Inc. (SRNE) was a big mover last session, as its shares rose nearly 9% on the day. The rise came on solid volume too with far more shares changing hands than in a normal session. This continues the uptrend for the company since Feb 21, as the stock is now up almost 56%.

In the last 30 days, the company has not seen any estimate revision and the Zacks Consensus Estimate also remained unchanged. However, yesterday’s price action is encouraging, so make sure to keep a close watch on this firm in the near future.

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

Better-ranked medical stocks include Covidien plc (COV), NuVasive, Inc. (NUVA) and Stryker Corporation (SYK). All three carry a Zacks Rank #2 (Buy).

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