In the latest trading session, Sorrento Therapeutics (SRNE) closed at $6.68, marking a +1.52% move from the previous day. This change outpaced the S&P 500's 0.34% loss on the day. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.73%.
Heading into today, shares of the biopharmaceutical company had gained 39.11% over the past month, outpacing the Medical sector's gain of 5.8% and the S&P 500's gain of 5.71% in that time.
Investors will be hoping for strength from SRNE as it approaches its next earnings release. The company is expected to report EPS of -$0.22, up 43.59% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8 million, up 23.46% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.86 per share and revenue of $42.36 million, which would represent changes of +59.43% and +34.77%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for SRNE. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 15.56% higher. SRNE currently has a Zacks Rank of #2 (Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Sorrento Therapeutics, Inc. (SRNE): Free Stock Analysis Report
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