-$0.07 Earnings Per Share Expected for Sesen Bio Inc (SESN) This Quarter

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Analysts expect that Sesen Bio Inc (NASDAQ:SESN) will post ($0.07) earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have provided estimates for Sesen Bio’s earnings. The lowest EPS estimate is ($0.08) and the highest is ($0.06). Sesen Bio posted earnings of ($0.22) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 68.2%. The business is expected to report its next earnings report on Wednesday, April 3rd.

On average, analysts expect that Sesen Bio will report full-year earnings of ($0.39) per share for the current financial year, with EPS estimates ranging from ($0.41) to ($0.36). For the next financial year, analysts forecast that the business will post earnings of ($0.28) per share, with EPS estimates ranging from ($0.32) to ($0.23). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Sesen Bio.

Sesen Bio (NASDAQ:SESN) last issued its quarterly earnings results on Thursday, November 8th. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.08).

Several brokerages have issued reports on SESN. ValuEngine upgraded Sesen Bio from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research cut Sesen Bio from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Finally, Jefferies Financial Group began coverage on Sesen Bio in a report on Monday, July 23rd. They issued a “buy” rating and a $4.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Sesen Bio presently has an average rating of “Buy” and an average target price of $3.17.

NASDAQ:SESN traded down $0.07 during trading hours on Friday, hitting $1.79. The company had a trading volume of 1,345,685 shares, compared to its average volume of 736,364. The stock has a market cap of $118.60 million, a P/E ratio of -1.61 and a beta of 2.88. Sesen Bio has a 1 year low of $0.62 and a 1 year high of $3.50.

A number of large investors have recently modified their holdings of the business. Hikari Power Ltd purchased a new stake in Sesen Bio in the 3rd quarter valued at $141,000. BlackRock Inc. grew its holdings in shares of Sesen Bio by 5.2% during the 3rd quarter. BlackRock Inc. now owns 1,408,316 shares of the company’s stock worth $3,027,000 after purchasing an additional 69,423 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Sesen Bio during the 2nd quarter worth $147,000. MYDA Advisors LLC purchased a new position in shares of Sesen Bio during the 2nd quarter worth $195,000. Finally, DRW Securities LLC purchased a new position in shares of Sesen Bio during the 2nd quarter worth $293,000. Institutional investors own 52.09% of the company’s stock.

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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