Is This Stock a Screaming Buy: Sorrento Therapeutics, Inc. (NASDAQ:SRNE)

Equity Research firms currently have a positive stance on shares of Sorrento Therapeutics, Inc. (NASDAQ:SRNE). The majority of analysts covering the equity have a consensus Strong Buy recommendation on the stock, yielding a score of 1.30. This is based on the research brokerage reports taken into consideration by Thomson Reuters. Those same analysts are projecting that the stock will reach $22.50 on a short term basis.

At the time of writing, the stock was trading at $7.64. This represents a change from the opening price of -0.65%. In terms of performance, year to date, the stock is -11.60%. The monthly stock performance comes in at 11.59%. For the quarter, shares are performing at 14.75%. Weekly performance analysis shows the equity at 1.32%.

In taking a look at technical levels, shares are trading 9.46% away from the 50 day simple moving average and 18.42% away from the 200 day simple moving average. Based on a recent bid, the stock is trading -28.66% away from it’s 52- week high and 79.76% away from its 52 week low. After the recent moves, investors may also look to see if the stock has entered oversold or overbought territory and could be ripe for a bounce. As of writing, Sorrento Therapeutics, Inc.’s RSI stands at 55.92. In looking at volatility levels, the shares saw weekly volatility of 4.54% and 4.34% over the past month.

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