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Earnings Estimates Moving Higher for Sorrento Therapeutics (SRNE): Time to Buy?
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Sorrento Therapeutics, Inc. (SRNE - Free Report) is a clinical stage biopharma company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SRNE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Sorrento Therapeutics could be a solid choice for investors.
Current Quarter Estimates for SRNE
In the past 30 days, one estimate has gone higher for Sorrento Therapeutics while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 23 cents a share 30 days ago, to a loss of 22 cents today, a move of 4.3%.
Current Year Estimates for SRNE
Meanwhile, Sorrento Therapeutics’ current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $1.00 per share 30 days ago to a loss of 86 cents per share today, an increase of 14%.
The stock has also started to move higher lately, adding 63.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Earnings Estimates Moving Higher for Sorrento Therapeutics (SRNE): Time to Buy?
Sorrento Therapeutics, Inc. (SRNE - Free Report) is a clinical stage biopharma company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SRNE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Sorrento Therapeutics could be a solid choice for investors.
Current Quarter Estimates for SRNE
In the past 30 days, one estimate has gone higher for Sorrento Therapeutics while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 23 cents a share 30 days ago, to a loss of 22 cents today, a move of 4.3%.
Current Year Estimates for SRNE
Meanwhile, Sorrento Therapeutics’ current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $1.00 per share 30 days ago to a loss of 86 cents per share today, an increase of 14%.
Sorrento Therapeutics, Inc. Price and Consensus
Sorrento Therapeutics, Inc. price-consensus-chart | Sorrento Therapeutics, Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 63.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>