Zacks: Sesen Bio Inc (SESN) Given Consensus Rating of “Strong Buy” by Brokerages
Sesen Bio Inc (NASDAQ:SESN) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus price target of $3.50 for the company and are anticipating that the company will post ($0.07) earnings per share for the current quarter, according to Zacks. Zacks has also given Sesen Bio an industry rank of 102 out of 255 based on the ratings given to its competitors.
Several brokerages have commented on SESN. Zacks Investment Research lowered Sesen Bio from a “buy” rating to a “hold” rating in a research report on Tuesday. Canaccord Genuity began coverage on Sesen Bio in a research report on Monday, July 9th. They set a “buy” rating for the company. Finally, Jefferies Financial Group began coverage on Sesen Bio in a research report on Monday, July 23rd. They set a “buy” rating and a $4.00 price objective for the company.
Sesen Bio (NASDAQ:SESN) last released its quarterly earnings results on Tuesday, August 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). analysts predict that Sesen Bio will post -0.39 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new position in Sesen Bio during the second quarter valued at $147,000. MYDA Advisors LLC purchased a new position in Sesen Bio during the second quarter valued at $195,000. DRW Securities LLC purchased a new position in Sesen Bio during the second quarter valued at $293,000. Northern Trust Corp purchased a new position in Sesen Bio during the second quarter valued at $315,000. Finally, AJ Wealth Strategies LLC purchased a new position in Sesen Bio during the second quarter valued at $400,000. 52.07% of the stock is 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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