Investing.com - Sorrento Therape reported on Friday third quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Sorrento Therape announced earnings per share of $-0.200 on revenue of $17.40M. Analysts polled by Investing.com anticipated EPS of $-0.280 on revenue of $19.13M.
Sorrento Therape shares are down 61% from the beginning of the year, still down 72.59% from its 52 week high of $6.61 set on November 12, 2021.
Sorrento Therape shares gained 11.82% in intra-day trade following the report.
Sorrento Therape follows other major Healthcare sector earnings this month
Sorrento Therape's report follows an earnings beat by UnitedHealth on October 14, who reported EPS of $5.79 on revenue of $80.89B, compared to forecasts EPS of $5.43 on revenue of $80.52B.
J&J had beat expectations on October 18 with third quarter EPS of $2.55 on revenue of $23.79B, compared to forecast for EPS of $2.52 on revenue of $23.46B.
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