Sesen Bio Inc (NASDAQ:SESN) Expected to Post Earnings of -$0.09 Per Share

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Brokerages expect Sesen Bio Inc (NASDAQ:SESN) to announce ($0.09) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Sesen Bio’s earnings, with estimates ranging from ($0.10) to ($0.08). Sesen Bio reported earnings of ($0.16) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 43.8%. The business is expected to report its next earnings report on Tuesday, August 13th.

According to Zacks, analysts expect that Sesen Bio will report full-year earnings of ($0.31) per share for the current financial year. For the next fiscal year, analysts forecast that the firm will post earnings of ($0.39) per share, with EPS estimates ranging from ($0.41) to ($0.36). Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Sesen Bio.

Sesen Bio (NASDAQ:SESN) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.08).

SESN has been the topic of a number of research analyst reports. Zacks Investment Research raised Sesen Bio from a “hold” rating to a “buy” rating and set a $1.50 price target on the stock in a research note on Friday, May 17th. HC Wainwright raised Sesen Bio from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $1.00 to $3.00 in a research note on Tuesday. Finally, ValuEngine raised Sesen Bio from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Sesen Bio has a consensus rating of “Buy” and an average price target of $2.50.

Shares of NASDAQ:SESN traded down $0.14 during trading on Wednesday, reaching $1.91. The stock had a trading volume of 4,406,808 shares, compared to its average volume of 2,505,867. The firm has a market capitalization of $146.94 million, a PE ratio of -3.47 and a beta of 1.14. Sesen Bio has a 1-year low of $0.66 and a 1-year high of $2.60.

Large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in Sesen Bio by 5.2% during the third quarter. BlackRock Inc. now owns 1,408,316 shares of the company’s stock worth $3,027,000 after buying an additional 69,423 shares during the last quarter. Vanguard Group Inc. boosted its stake in Sesen Bio by 22.0% during the third quarter. Vanguard Group Inc. now owns 2,518,891 shares of the company’s stock worth $5,415,000 after buying an additional 454,950 shares during the last quarter. Vanguard Group Inc boosted its stake in Sesen Bio by 22.0% during the third quarter. Vanguard Group Inc now owns 2,518,891 shares of the company’s stock worth $5,415,000 after buying an additional 454,950 shares during the last quarter. Pura Vida Investments LLC acquired a new position in Sesen Bio during the fourth quarter worth $284,000. Finally, Two Sigma Investments LP acquired a new position in Sesen Bio during the fourth quarter worth $34,000. 24.14% 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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Earnings History and Estimates for Sesen Bio (NASDAQ:SESN)

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