Wall Street brokerages expect Sesen Bio Inc (NASDAQ:SESN) to post ($0.08) earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have issued estimates for Sesen Bio’s earnings, with estimates ranging from ($0.08) to ($0.07). Sesen Bio reported earnings per share of ($0.18) in the same quarter last year, which suggests a positive year-over-year growth rate of 55.6%. The company is scheduled to issue its next earnings report on Thursday, November 14th.
According to Zacks, analysts expect that Sesen Bio will report full year earnings of ($0.85) per share for the current financial year, with EPS estimates ranging from ($0.86) to ($0.83). For the next year, analysts anticipate that the firm will post earnings of ($0.41) per share, with EPS estimates ranging from ($0.42) to ($0.39). Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Sesen Bio.
Sesen Bio (NASDAQ:SESN) last released its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04).
A number of equities analysts recently commented on SESN shares. HC Wainwright upgraded Sesen Bio from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $1.00 to $3.00 in a report on Tuesday, June 11th. Laidlaw cut Sesen Bio from a “buy” rating to a “hold” rating in a report on Friday, August 9th. ValuEngine upgraded Sesen Bio from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Sesen Bio from a “sell” rating to a “hold” rating and set a $1.25 price target for the company in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Sesen Bio has an average rating of “Hold” and a consensus price target of $2.42.
A number of institutional investors have recently bought and sold shares of SESN. CVI Holdings LLC bought a new position in Sesen Bio during the second quarter worth about $12,169,000. Millennium Management LLC boosted its holdings in shares of Sesen Bio by 32.5% during the fourth quarter. Millennium Management LLC now owns 1,099,897 shares of the company’s stock worth $1,562,000 after acquiring an additional 269,863 shares during the period. Monashee Investment Management LLC bought a new stake in shares of Sesen Bio during the second quarter worth approximately $300,000. Wells Fargo & Company MN boosted its holdings in shares of Sesen Bio by 5,692.4% during the second quarter. Wells Fargo & Company MN now owns 99,976 shares of the company’s stock worth $150,000 after acquiring an additional 98,250 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Sesen Bio during the first quarter worth approximately $88,000. Institutional investors and hedge funds own 24.27% of the company’s stock.
Sesen Bio stock traded up $0.01 during midday trading on Monday, reaching $1.12. 752,500 shares of the company’s stock were exchanged, compared to its average volume of 1,302,557. Sesen Bio has a 52 week low of $0.66 and a 52 week high of $2.60. The stock’s 50-day simple moving average is $1.24 and its 200 day simple moving average is $1.25.
About Sesen Bio
Sesen Bio, Inc, a late-stage clinical company, develops next-generation antibody-drug conjugate therapies for patients with cancer. It develops its products based on its Targeted Protein Therapeutics (TPTs) platform. The company's lead product candidate is Vicinium, a fusion protein that is in Phase III clinical trial for the treatment of high-grade non-muscle invasive bladder cancer.
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