Is Sorrento Therapeutics Stock a Buy?

Sorrento Therapeutics (NASDAQ: SRNE) stock has crashed around 40% in value in just the past month, while the S&P 500 has been generating positive returns of 4%. It's been a roller-coaster ride for investors who've seen Sorrento stock climb to highs of more than $19 this year, only to fall to less than one-third of that price today.

The company's been surging on its coronavirus work, but now with Pfizer and Moderna appearing to be close to getting approval for its COVID-19 vaccine, Sorrento's decline may not be over. Today, I'll take a closer look at the company's core business, the stock's current valuation, and whether investors should considering buying the stock on its lower valuation -- or if the worst may still be to come for Sorrento investors.

Larger healthcare companies like Pfizer, Moderna and Johnson & Johnson are working feverishly to develop coronavirus vaccines and obtain emergency use authorization (EUA) from the Food and Drug Administration (FDA) as soon as possible. To date, only Gilead Sciences has obtained full approval from the FDA, for its remdesivir drug used to treat COVID-19 patients.

Source Fool.com