Is Sorrento Therapeutics Stock a Buy?
The pool of companies looking to develop vaccines or treatments for COVID-19 is very large. However, some of these companies are attracting more headlines than others. Sorrento Therapeutics (NASDAQ: SRNE) made a lot of noise on May 15, when it announced some exciting news regarding its efforts to develop a treatment for COVID-19. The company's stock soared by more than 100% on the news, and although it has since given up some of these gains, Sorrento's stock is still up by about 44% year to date.
Naturally, if the company reports more exciting coronavirus-related news -- and successfully develops a treatment for the potentially deadly disease -- its stock could skyrocket once again. With this backdrop in mind, it is worth taking a closer look at Sorrento's investment prospects, and deciding whether this biotech stock is a good buy.
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Source Fool.com
