SRNE - Sorrento Therapeutics Stock Could More Than Double Says Analyst
Sorrento Therapeutics (NASDAQ: SRNE) is an underappreciated coronavirus stock loaded with potential. So loaded, it's poised to double and then some in value.
That's the opinion of one analyst tracking the stock, Mayank Mamtani of B. Riley Securities. Friday morning, B. Riley initiated coverage of the biotech company, tagging it with a buy rating at a price target of $26 per share.
Sorrento has received considerable attention from investors and biotech industry observers for its efforts to combat the coronavirus. Many are keeping an eye on the company's COVI-MSC experimental stem cell therapy that targets COVID-19, the disease caused by the coronavirus. Encouragingly, on Wednesday Sorrento reported quite positive results from a phase 1b study of COVI-MSC .
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Sorrento Therapeutics Stock Could More Than Double, Says Analyst