Sesen Bio Inc (SESN) Given $3.50 Consensus Target Price by Brokerages

Sesen Bio Inc (NASDAQ:SESN) has received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1-year consensus price objective of $3.50 for the company and are forecasting that the company will post ($0.07) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Sesen Bio an industry rank of 102 out of 255 based on the ratings given to its competitors.

A number of brokerages have weighed in on SESN. Zacks Investment Research lowered Sesen Bio from a “buy” rating to a “hold” rating in a research note on Tuesday. Canaccord Genuity began coverage on Sesen Bio in a research note on Monday, July 9th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group began coverage on Sesen Bio in a research note on Monday, July 23rd. They set a “buy” rating and a $4.00 price target on the stock.

NASDAQ:SESN traded down $0.05 during trading hours on Wednesday, reaching $1.99. 9,191 shares of the company traded hands, compared to its average volume of 1,312,902. The stock has a market cap of $160.95 million, a PE ratio of -1.78 and a beta of 2.59. Sesen Bio has a 1-year low of $0.62 and a 1-year high of $3.50.

Sesen Bio (NASDAQ:SESN) last announced its earnings results on Tuesday, August 14th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). equities analysts anticipate that Sesen Bio will post -0.39 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Baker BROS. Advisors LP purchased a new position in shares of Sesen Bio in the 2nd quarter worth $5,118,000. BlackRock Inc. purchased a new position in shares of Sesen Bio in the 2nd quarter worth $2,611,000. Point72 Asset Management L.P. purchased a new position in shares of Sesen Bio in the 2nd quarter worth $1,804,000. AJ Wealth Strategies LLC purchased a new position in shares of Sesen Bio in the 2nd quarter worth $400,000. Finally, Northern Trust Corp purchased a new position in shares of Sesen Bio in the 2nd quarter worth $315,000. 52.07% of the stock is currently owned by institutional investors and hedge funds.

Sesen Bio Company Profile

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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