Wall Street analysts forecast that Sesen Bio Inc (NASDAQ:SESN) will report earnings per share of ($0.08) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Sesen Bio’s earnings, with the highest EPS estimate coming in at ($0.07) and the lowest estimate coming in at ($0.09). Sesen Bio reported earnings per share of ($0.09) in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The business is scheduled to report its next earnings report on Monday, March 2nd.
On average, analysts expect that Sesen Bio will report full-year earnings of ($0.91) per share for the current fiscal year, with EPS estimates ranging from ($0.92) to ($0.90). For the next fiscal year, analysts expect that the company will report earnings of ($0.38) per share, with EPS estimates ranging from ($0.39) to ($0.37). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Sesen Bio.
Sesen Bio (NASDAQ:SESN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.01).
SESN has been the topic of several research reports. Laidlaw downgraded shares of Sesen Bio from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Zacks Investment Research downgraded shares of Sesen Bio from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $2.25 price target on shares of Sesen Bio in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $2.17.
A number of institutional investors have recently added to or reduced their stakes in the business. CVI Holdings LLC purchased a new stake in Sesen Bio in the 2nd quarter worth approximately $12,169,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Sesen Bio in the 2nd quarter worth approximately $31,000. Jane Street Group LLC purchased a new stake in Sesen Bio in the 2nd quarter worth approximately $48,000. D. E. Shaw & Co. Inc. purchased a new stake in Sesen Bio in the 2nd quarter worth approximately $32,000. Finally, Vanguard Group Inc. boosted its position in Sesen Bio by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,554,563 shares of the company’s stock worth $5,332,000 after purchasing an additional 22,228 shares in the last quarter. Institutional investors and hedge funds own 22.49% of the company’s stock.
NASDAQ:SESN traded down $0.01 during midday trading on Wednesday, hitting $1.20. The company’s stock had a trading volume of 1,650,496 shares, compared to its average volume of 2,000,342. Sesen Bio has a fifty-two week low of $0.66 and a fifty-two week high of $2.60. The firm’s 50 day moving average is $1.20 and its 200-day moving average is $1.34. The firm has a market cap of $123.52 million, a P/E ratio of -2.18 and a beta of 0.72.
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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