Sorrento SRNE Stock Forecast 2023
Sorrento (SRNE) Stock Forecast 2023: Latest Price
A biopharmaceutical company developing new therapies to treat cancer, cancer pain, autoimmune diseases, and COVID-19, Sorrento is at the clinical and commercial stages of development.
Before we get into Forecasts, let us quickly look at the latest news and understand if Sorrento is a good investment.
Latest News Sorrento
- Sorrento Therapeutics announces positive data from Phase 2 study of COVID-19 antibody cocktail. The company announced that its antibody cocktail, STI-1459, was effective in preventing COVID-19 infection in a Phase 2 study.
- Sorrento Therapeutics announced positive top-line data from its Phase 2b trial of STI-563 in COVID-19 patients. The trial met its primary endpoint of significantly reducing the risk of hospitalization or death in patients with mild to moderate COVID-19. STI-563 is a monoclonal antibody that targets the SARS-CoV-2 virus. The company plans to file for an emergency use authorization (EUA) with the FDA for STI-563 in the near future.
Sorrento Stock Forecast 2023: Quarterly Result
| EPS | Revenue | |
|---|---|---|
| Q1 2023 (Mar 2023) | -0.26 | 16.25M |
| Q4 2022 (Dec 2022) | -0.49 | 15.59M |
| Q3 2022 (Sep 2022) | -0.20 | 17.40M |
| Earnings history by period FQ2 2022 (Jun 2022) | -0.54 | 11.46M |
| Q1 2022 (Mar 2022) | -0.12 | 18.39M |
Sorrento Therapeutics published its Q4 2022 result in March 2023 and it missed both its revenue as well as the revenue target.
The Results of the Q1, 2023 & 1st three quarters of 2022
| (USD) | Mar-23 | Sep-22 | Jun-22 | Mar-22 |
| Revenue | 16.25M | 17.4M | 11.46M | 18.38M |
| Net income | 139.6M | -89.58M | -218.76M | -40.82M |
| Diluted EPS | – | -0.2 | -0.54 | -0.12 |
| Net profit margin | -911.6% | -514.80% | -1908.73% | -222% |
| Operating income | -106.3M | -110.14M | -91.88M | -96.71M |
| Net change in cash | 341K | -41.56M | 75.24M | |
| Cash on hand | – | – | – | – |
Sorrento Stock Forecast Today
| Overall Outlook | Partially Bullish |
| 1. Market's Wisdom | Partially Bullish |
| 1a. Market Data | Neutral |
| 1b. Technical Recommendation | Buy |
| 2. Crowd's Wisdom | Neutral |
| 2a. Social Media Buzz | Steady |
| 2b. Social Media Sentiment | Steady |
SRNE Stock Forecast: Fundamentals
- Company Profile: Sorrento Therapeutics is a clinical-stage biopharmaceutical company developing new therapies for cancer, autoimmune disease and viral infections. The company’s lead product candidate, STI-529, is a novel immunotherapy that is currently in Phase 2 clinical trials for the treatment of metastatic breast cancer.
- Financial Performance: Sorrento Therapeutics’ financial performance has been mixed in recent years. The company has reported losses in each of the last three years, and its revenue has declined from $18.6 million in 2019 to $10.6 million in 2022.
- Valuation: Sorrento Therapeutics’ stock is currently trading at a price-to-sales ratio of 14. This is significantly higher than the average price-to-sales ratio for the biotech industry, which is around 6.
Overall, Sorrento Therapeutics is a risky investment. The company has a history of losses, and its valuation is high relative to its peers. However, the company has a promising pipeline of product candidates, and it could be a good investment for investors who are willing to take on some risk.
NOTE: SRNE has been delisted from NASDAQ. Now it is listed in OTC Exchange under the ticker symbol SRNEQ
Sorrento (SRNE) Stock Forecast 2023: Macros
The global economy is expected to grow at a slower pace in 2023 than in 2022. This could lead to lower demand for Sorrento’s products. Interest rates are expected to rise in 2023, which could make it more expensive for Sorrento to borrow money. Inflation is expected to remain elevated in 2023, which could lead to higher costs for Sorrento. The biotech industry is expected to remain volatile in 2023, which could make it difficult for Sorrento to raise capital and develop its pipeline of products.
However, Sorrento has a number of potential catalysts that could drive its stock price higher in 2023. These catalysts include the success of its clinical trials, the approval of new products, and the acquisition of another company. Investors should carefully consider these factors before making a decision to invest in SRNE.
Is Sorrento[SRNE] a good investment?
Sorrento Therapeutics is a clinical-stage biopharmaceutical company that is developing new therapies for cancer, autoimmune disease, and viral infections. The company has a number of promising products in development, including STI-529, a novel immunotherapy for the treatment of cancer. Sorrento has also received a number of milestone payments from the U.S. government for the development of its products. However, the company has a history of losses, and its valuation is high relative to its peers. The company’s products are still in the development stage, and there is no guarantee that they will be successful. The company has also faced some financial challenges in recent years, which could make it difficult to bring its products to market.
The decision of whether or not to invest in Sorrento Therapeutics is a personal one that should be made after carefully considering the company’s risk factors and potential rewards. Investors who are looking for a growth investment with the potential for high rewards may find Sorrento to be an attractive option. However, investors who are looking for a more conservative investment should avoid Sorrento.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.