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Cantor Fitzgerald begins reporting on Sorrento Therapeutics Inc (NASDAQ: SRNE) with an Overweight rating and price target is $5.
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Sorrento has the potential to deliver many of the best in the high-value areas of cancer, pain and infectious disease, the analyst said, highlighting three value drivers:
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Scilex’s ability to relieve non-opioid pain. Its pain relief portfolio now features marketing and pipeline programs, which could unlock even more meaningful value.
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Potential of Abivertinib in non-small cell lung cancer
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The conservative background value is supposed to allow investors to reap rewards from current levels in the short and longer term as other pipeline schemes come into existence.
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In August, abivertinib showed significant therapeutic benefits in 209 pre-treated NSCLC patients, evaluated for response, with an ORR of 56.5%.
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Significant CR rates were seen with Abivertinib (5.3%) vs AstraZeneca Plc’s (NASDAQ: AZN) Tagrisso (osimertinib) (0.5%), survival 28.2 months (compared to Tagrisso’s median OS of 26.8 months).
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Price action: SRNE stock was down 0.95% at $1.57 at its last test on Wednesday.
Latest ratings for SRNE
|
Day |
Sure |
Work |
Are from |
Arrive |
|---|---|---|---|---|
|
August 2021 |
HC Wainwright & Co. |
Maintenance |
Buying |
|
|
January 2021 |
Global Partner Alliance |
Start Coverage On |
Buying |
|
|
July 2020 |
HC Wainwright & Co. |
Maintenance |
Buying |
See more analyst ratings for SRNE
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