-$0.09 EPS Expected for Sesen Bio Inc (NASDAQ:SESN) This Quarter

Wall Street brokerages forecast that Sesen Bio Inc (NASDAQ:SESN) will report ($0.09) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Sesen Bio’s earnings. The lowest EPS estimate is ($0.10) and the highest is ($0.08). Sesen Bio reported earnings per share of ($0.13) in the same quarter last year, which suggests a positive year over year growth rate of 30.8%. The firm is scheduled to issue its next quarterly earnings results on Thursday, August 13th.

According to Zacks, analysts expect that Sesen Bio will report full-year earnings of $0.08 per share for the current fiscal year, with EPS estimates ranging from $0.04 to $0.11. For the next financial year, analysts expect that the firm will report earnings of ($0.32) per share, with EPS estimates ranging from ($0.37) to ($0.27). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Sesen Bio.

Sesen Bio (NASDAQ:SESN) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.40.

Several analysts have issued reports on SESN shares. ValuEngine lowered shares of Sesen Bio from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $5.00 price target on shares of Sesen Bio in a research report on Tuesday, May 12th. Finally, Zacks Investment Research raised shares of Sesen Bio from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $2.67.

Several large investors have recently added to or reduced their stakes in SESN. Private Advisor Group LLC increased its holdings in shares of Sesen Bio by 78.9% in the fourth quarter. Private Advisor Group LLC now owns 34,000 shares of the company’s stock valued at $35,000 after purchasing an additional 15,000 shares during the last quarter. Credit Suisse AG acquired a new position in shares of Sesen Bio in the fourth quarter valued at $261,000. Oxford Asset Management LLP acquired a new position in shares of Sesen Bio in the fourth quarter valued at $176,000. Finally, Geode Capital Management LLC increased its holdings in shares of Sesen Bio by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 723,126 shares of the company’s stock valued at $752,000 after purchasing an additional 37,081 shares during the last quarter. Hedge funds and other institutional investors own 15.47% of the company’s stock.

Shares of SESN stock traded down $0.01 during trading on Friday, reaching $0.71. The company’s stock had a trading volume of 319,137 shares, compared to its average volume of 664,186. The business has a fifty day moving average price of $0.75 and a 200-day moving average price of $0.77. The company has a market cap of $77.93 million, a price-to-earnings ratio of -0.87 and a beta of 1.10. Sesen Bio has a one year low of $0.37 and a one year high of $1.54.

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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