Sesen Bio Inc (SESN) Forecasted to Earn Q3 2018 Earnings of ($0.08) Per Share

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Sesen Bio Inc (NASDAQ:SESN) – Equities research analysts at Jefferies Financial Group boosted their Q3 2018 earnings per share estimates for shares of Sesen Bio in a report released on Wednesday, August 15th. Jefferies Financial Group analyst M. Andrews now forecasts that the company will earn ($0.08) per share for the quarter, up from their previous estimate of ($0.09). Jefferies Financial Group has a “Buy” rating and a $4.00 price objective on the stock. Jefferies Financial Group also issued estimates for Sesen Bio’s Q4 2018 earnings at ($0.08) EPS, FY2018 earnings at ($0.41) EPS, FY2019 earnings at ($0.23) EPS, FY2020 earnings at ($0.31) EPS, FY2021 earnings at ($0.47) EPS and FY2022 earnings at ($0.18) EPS.

A number of other equities research analysts have also recently issued reports on SESN. HC Wainwright upped their target price on shares of Sesen Bio to $3.50 and gave the company an “in-line” rating in a report on Tuesday, May 22nd. Zacks Investment Research raised shares of Sesen Bio from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a report on Saturday, May 26th. Finally, Canaccord Genuity assumed coverage on shares of Sesen Bio in a report on Monday, July 9th. They issued a “buy” rating on the stock.

Shares of SESN stock opened at $1.81 on Monday. The stock has a market capitalization of $86.13 million, a PE ratio of -1.63 and a beta of 2.49. Sesen Bio has a 52-week low of $0.62 and a 52-week high of $3.50.

Sesen Bio (NASDAQ:SESN) last issued its earnings results on Tuesday, August 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.03).

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in shares of Sesen Bio during the 2nd quarter worth approximately $147,000. MYDA Advisors LLC acquired a new position in shares of Sesen Bio during the 2nd quarter worth approximately $195,000. DRW Securities LLC acquired a new position in shares of Sesen Bio during the 2nd quarter worth approximately $293,000. AJ Wealth Strategies LLC acquired a new position in shares of Sesen Bio during the 2nd quarter worth approximately $400,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Sesen Bio during the 2nd quarter worth approximately $1,804,000. 29.02% of the stock is currently owned by hedge funds and other institutional investors.

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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