If you are looking for stocks that might have rallied strongly on Friday then it could be a good idea to take a look at the Sorrento Therapeutics (NASDAQ: SRNE) stock.
The stock rallied by as big as 19% on Friday and much of that came about after a highly bullish call from an analyst over at H.C. Wainwright. Yesterday, it emerged that the analyst has set a price target of around $30 for the Sorrento stock.
That implies gains of as much as around 275% from the closing price of the Sorrento stock on Thursday. Ram Selvaraju, the analyst stated that he expects the company to invest around $321 million combined in cell therapeutics outfit Cellurality and NantKwest.
Additionally, he pointed out that Sorrento has also expanded its asset portfolio in three important areas, oncology, pain management, and COVID-19. Such a bullish call might keep the Sorrento stock in the radars of investors in the coming week as well.