Test For SARS-CoV-2 and analyst reiterated his buy rating

Description

⋅ Aug 5, 2020 8:59 AM

Sorrento Announces License From Columbia University For Rapid On-Site Detection Test For SARS-CoV-2 Virus In Saliva

-- Test gives simple positive or negative color change results in 30 minutes or less

-- No special laboratory equipment required, hence practical for on-site deployment

-- Test uses saliva, eliminating need for painful nasal swabbing

-- Study shows sensitivity and specificity of 97% and 100%, respectively

investors.sorrentotherapeutics.com/news-releases/news-release-details/sorrento-announces-license-columbia-university-rapid-site

H.C. Wainwright analyst Raghuram Selvaraju reiterated his buy rating on Sorrento's stock and boosted his target price from $24 to $30.

Selvaraju said he is intrigued by the potential of a new rapid diagnostic test that Sorrento recently licensed from Columbia University

We believe that the incentive to facilitate the large-scale and indeed ubiquitous deployment of the COVI-TRACE test is extremely high, and governments worldwide may seek to implement this in their respective regions

fool.com/investing/2020/08/04/why-sorrento-therapeutics-stock-soared-today.aspx