Big tech got hit hard yesterday amid rising bond yields and continued to trade lower this morning. All three benchmarks traded lower this morning, pointing to a third straight losing day for Wall Street.
Small caps are perking up as investors shift away from high growth technology plays. Given how much small caps are up already this year, it’s natural to wonder if you missed the rally. But analysts don’t think so.
Wall Street analysts think more than 60% of the Russell 2000 stocks trading for $5 or more a share still have upside in the next 12 months. And they think nearly 75 of those will jump 100% or more in the next 12 months. Our trade alert for today features one such stock that’s at the top of the list.
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San Diego, California based Sorrento Therapeutics, Inc.(SRNE) is a biopharmaceutical company focused primarily on the acquisition, discovery, deployment and commercialization of proprietary oncology therapeutics. The company researches human therapeutic antibodies for the treatment of cancer, inflammation, metabolic disease and infectious disease. The company has a 2.55 billion dollar market cap.
Analysts have praised Sorrento’s pipeline of diagnostic tests and therapies that, if approved, could generate more than $2 billion in near-term sales, according to Alliance Global analyst James Molloy. Meanwhile, B. Riley Securities analyst Mayank Mamtani believes Sorrento’s stock price could rise roughly 78% to $26, thanks to its diversified portfolio of projects.
“With three shots on goal — therapeutic antibodies for a variety of diseases, including COVID-19; non-opioid pain therapies across multiple indications; and a very early stage immunotherapy effort — SRNE is well-positioned for success,” said Mamati.
Of the four analysts covering SRNE stock, all rate the stock a Buy. Share price is expected to to grow more than 200% for fiscal year 2021. The median price target for SRNE stock is $28 per share.
Where to invest $1,000 right now...
Before you consider buying Sorrento Therapeutics, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not Sorrento Therapeutics.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
Jeff’s no. 1 Pick
Jeff Brown is arguably America’s #1 most accurate technology investor.
In 2015, he singled out Bitcoin before it shot up almost 100x… He also recommended the #1 tech investments of 2016, 2018, 2019, and 2020… And—this year—he’s already picked two of the three top-performing stocks!
Recently, Mr. Brown sat down with Chris Hurt to discuss the state of the stock market… And discuss his new #1 pick.[Full Story…]