Wall Street brokerages expect Sesen Bio Inc (NASDAQ:SESN) to post earnings per share (EPS) of ($0.08) for the current fiscal quarter, according to Zacks. 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 posted earnings per share of ($0.09) during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.1%. The company is scheduled to announce its next quarterly earnings results on Monday, March 2nd.
According to Zacks, analysts expect that Sesen Bio will report full-year earnings of ($0.91) per share for the current financial year, with EPS estimates ranging from ($0.92) to ($0.90). For the next financial year, analysts expect that the company will post earnings of ($0.38) per share, with EPS estimates ranging from ($0.39) to ($0.37). Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Sesen Bio.
Sesen Bio (NASDAQ:SESN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.01).
SESN has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Sesen Bio from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Laidlaw lowered shares of Sesen Bio from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, HC Wainwright restated a “buy” rating and set a $2.25 price objective on shares of Sesen Bio in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $2.17.
Shares of Sesen Bio stock traded down $0.01 during 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. The company has a market capitalization of $123.52 million, a PE ratio of -2.18 and a beta of 0.72. Sesen Bio has a 52 week low of $0.66 and a 52 week high of $2.60. The company has a fifty day simple moving average of $1.20 and a two-hundred day simple moving average of $1.34.
A number of large investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. bought a new stake in Sesen Bio during the 2nd quarter valued at about $31,000. D. E. Shaw & Co. Inc. bought a new stake in Sesen Bio during the 2nd quarter valued at about $32,000. Vanguard Group Inc. increased its stake in Sesen Bio by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,554,563 shares of the company’s stock valued at $5,332,000 after purchasing an additional 22,228 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Sesen Bio during the 2nd quarter valued at about $37,000. Finally, Jane Street Group LLC bought a new stake in Sesen Bio during the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 22.49% of the company’s stock.
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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