How high will Sorrento stock go?
The highest analyst price target is $13.00 ,the lowest forecast is $13.00. The average price target represents 4130.39% Increase from the current price of $0.307. What do analysts say about Sorrento Therapeutics?
According to the current price, Sorrento Therapeutics is 4.77% away from the 52-week high. What are analysts forecasts for Sorrento Therapeutics stock? The 2 analysts offering price forecasts for Sorrento Therapeutics have a median target of 12.50, with a high estimate of 20.00 and a low estimate of 5.00.
What is the Sorrento Therapeutics stock prediction for 2025? According to our Sorrento Therapeutics stock prediction for 2025, SRNE stock will be priced at $ 0.289811 in 2025.
Sorrento Therape stock price stood at $511.00
According to the latest long-term forecast, Sorrento Therape price will hit $4000 by the end of 2024 and then $5000 by the middle of 2025. Sorrento Therape will rise to $10000 within the year of 2027.
| Date | Number of Analysts | Average Target Price |
|---|---|---|
| 2021-12-28 | 3 | $26.666 |
| 2022-01-04 | 3 | $26.333 |
| 2022-02-18 | 2 | $22 |
| 2022-03-25 | 2 | $19 |
Effective February 22, 2023, Sorrento Therapeutics, Inc., SRNE will be delisted from the NASDAQ and will move its listing to the Other-OTC Market under symbol SRNEQ.
After losing in court in December 2022, Sorrento filed for Chapter 11 bankruptcy. Obtaining the $75 million loan won't solve Sorrento's near-term problems. The court ruled in December that the company owes more than $170 million, most of which is due to NantCell.
| Year | Mid-Year | Year-End |
|---|---|---|
| 2030 | $19.24 | $19.64 |
| 2031 | $20.05 | $20.48 |
| 2032 | $20.93 | $21.40 |
| 2033 | $21.89 | $22.41 |
If Nio trades at 6 times sales and steadily grows its revenue at a compound annual growth rate (CAGR) of 12% from $7.8 billion in 2023 to $166.7 billion in 2050, it could be worth $1 trillion by the final year.
| Year | Prediction | Change |
|---|---|---|
| 2027 | $ 0.240775 | -73.58% |
| 2028 | $ 0.154500 | -83.05% |
| 2029 | $ 0.099139 | -89.12% |
| 2030 | $ 0.063615 | -93.02% |
Who owns Sorrento Therapeutics stock?
The ownership structure of Sorrento Therapeutics (SRNEQ) stock is a mix of institutional, retail and individual investors. Approximately 3.72% of the company's stock is owned by Institutional Investors, 62.34% is owned by Insiders and 33.95% is owned by Public Companies and Individual Investors.
IPO & Stock Price
Sorrento Therapeutics is registered under the ticker NASDAQ:SRNE . Their stock opened with $7.25 in its Jan 11, 2010 IPO.
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Concerned onlookers have wondered is Sorrento Therapeutics going out of business? The short answer is Sorrento did enter bankruptcy proceedings but continues to operate.
| Shares Outstanding | 551.28M |
|---|---|
| Shares Change (QoQ) | +1.50% |
| Owned by Insiders (%) | 0.89% |
| Owned by Institutions (%) | 0.08% |
| Float | 538.99M |
| High | $120.00 |
|---|---|
| Median | $107.50 |
| Low | $54.86 |
| Average | $99.69 |
| Current Price | $87.90 |
Though delisting does not affect your ownership, shares may not hold any value post-delisting. Thus, if any of the stocks that you own get delisted, it is better to sell your shares. You can either exit the market or sell it to the company when it announces buyback.
Sorrento Therapeutics's analyst rating consensus is a Moderate Buy. This is based on the ratings of 2 Wall Streets Analysts.
If an investor owns a stock, but that stock gets delisted, they still own the stock, but its value is likely to decline significantly. Mandatory delisting is usually viewed as a sign of financial distress and can sometimes signal a forthcoming bankruptcy, which tends to decimate a stock's value.
Sorrento Therapeutics (NASDAQ:SRNE) stock is falling on Monday after the company filed for bankruptcy alongside subsidiary Scintilla Pharmaceuticals.
What has happened to Sorrento Therapeutics?
Sorrento Therapeutics Inc., which filed for bankruptcy in February after suffering shortseller attacks for prematurely saying it had developed a cure for Covid-19, received court approval to sell a major stake in its publicly traded subsidiary. The San Diego-based company is set to sell its shares of Scilex Holding Co.
Sorrento is far from out of the woods. The biotech stock is being delisted by the Nasdaq stock exchange. The only positive for investors is that it owns a majority stake in Scilex Holding Company, which hasn't been impacted by its bankruptcy filing.
To reach $1,000 a share, Nio would need to reverse its losses and deliver rapidly accelerating profit growth. It would also likely need to start repurchasing shares to reverse the impact of dilution on its stock. Those factors make it unlikely that Nio would ever reach $1,000 a share.
What is NIO's average 12-month price target, according to analysts? Based on analyst ratings, Nio's 12-month average price target is $7.09. What is NIO's upside potential, based on the analysts' average price target? Nio has 22.24% upside potential, based on the analysts' average price target.
NIO has a good product proposition with a strong brand, a strong balance sheet, and more recently, backing from CYVN Holdings - which is majority-owned by the Abu Dhabi government. NIO looks to be among those names that can survive the current EV industry slump, even as many startup EV companies seem doomed.
