Zacks Investment Research Lowers Sesen Bio (SESN) to Sell
Zacks Investment Research lowered shares of Sesen Bio (NASDAQ:SESN) from a hold rating to a sell rating in a report released on Friday.
According to Zacks, “Sesen Bio Inc. is a late-stage company developing next-generation antibody-drug conjugate therapies for patients with cancer. The company’s product portfolio includes Vicinium(TM) which is in its clinical trial, treats high-grade non-muscle invasive bladder cancer. Sesen Bio Inc., formerly known as Eleven Biotherapeutics, is based in Massachusetts, United States. “
Other analysts have also recently issued reports about the stock. HC Wainwright set a $3.00 price objective on shares of Sesen Bio and gave the stock a buy rating in a research note on Monday, November 12th. ValuEngine upgraded shares of Sesen Bio from a hold rating to a buy rating in a research note on Wednesday, November 7th. Finally, Jefferies Financial Group began coverage on shares of Sesen Bio in a research note on Monday, July 23rd. They set a buy rating and a $4.00 target price for the company. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $3.00.
Sesen Bio (NASDAQ:SESN) last issued its quarterly earnings data on Thursday, November 8th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.08). Research analysts anticipate that Sesen Bio will post -0.54 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Nexthera Capital LP acquired a new position in Sesen Bio during the 3rd quarter valued at $2,531,000. Bridgeway Capital Management Inc. acquired a new position in Sesen Bio during the 3rd quarter valued at $215,000. Dimensional Fund Advisors LP acquired a new position in Sesen Bio during the 3rd quarter valued at $388,000. BlackRock Inc. raised its stake in Sesen Bio by 5.2% during the 3rd quarter. BlackRock Inc. now owns 1,408,316 shares of the company’s stock valued at $3,027,000 after purchasing an additional 69,423 shares during the last quarter. Finally, Hikari Power Ltd acquired a new position in Sesen Bio during the 3rd quarter valued at $141,000. Hedge funds and other institutional investors own 52.32% 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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