Sorrento Therapeutics Inc (NASDAQ:SRNE) Is A Buy, Says MLV & CO Research Note

751

Dallas, Texas 06/26/2015 (Financialstrend) – Sorrento Therapeutics Inc (NASDAQ:SRNE) is once again the subject of research for many equity research firms. The company’s recent activity, mainly by subsidiaries, has led analysts to believe there is an upside to this therapeutics player. On Monday, MLV & Co. restated that it would continue to rate Sorrento Therapeutics as a ‘buy.’ The analyst firm has set a price target of $33.00 for the biopharmaceutical company.

On Thursday, ARK Animal Health, a subsidiary owned by Sorrento, announced receiving Minor Use/Minor Species or MUMS Drug Designation by the FDA for its ARK-001 veterinary drug. The drug is used for pain relief in dogs affected by one cancer. The present designation will allow the company to market its product, under exclusive rights for seven years. Additionally, it will also be ‘eligible’ for approvals, on conditional basis. When such conditional approval is granted, the company will have five years to provide complete data for full approval and more than five years to market the drug.

Sorrento Therapeutics Inc (NASDAQ:SRNE) subsidiary is also developing vaccines which will help fight infections from Staphylococcus, which typically causes the Pyoderma condition in dogs.

Currently, Sorrento and ARK are sharing services agreement to augment the expenses of development as many of them overlap, especially with respect to Human programs such as the API manufacturing processes.

Sorrento Therapeutics Inc (NASDAQ:SRNE) is an oncology company which is focused on clinical stage treatments for pain associated with cancers. As the biopharmaceuticals forges ahead with different partners to find successful drugs which bring pain relief, analysts continue to rate this cancer domain player a ‘buy.’

The recent developments have strongly underplayed the vast intellectual property it owns, by way of its clinical research and development of pain relieving cancer drugs. The recent diversifications into developing products which are indications or associated with immunology have also brought in investor confidence.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.