Sesen Bio (SESN) Upgraded by Zacks Investment Research to Buy

Share on StockTwits

Zacks Investment Research upgraded shares of Sesen Bio (NASDAQ:SESN) from a hold rating to a buy rating in a report released on Friday, Zacks.com reports. Zacks Investment Research currently has $1.50 price target on the stock.

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 equities analysts also recently issued reports about the company. Jefferies Financial Group restated a buy rating and set a $3.00 price objective on shares of Sesen Bio in a research report on Wednesday, February 6th. HC Wainwright set a $1.00 price objective on Sesen Bio and gave the stock a hold rating in a research report on Tuesday, March 5th. Finally, ValuEngine downgraded Sesen Bio from a hold rating to a sell rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Sesen Bio currently has a consensus rating of Hold and a consensus price target of $1.83.

Shares of SESN opened at $1.75 on Friday. Sesen Bio has a 1 year low of $0.66 and a 1 year high of $3.24. The stock has a market cap of $111.55 million, a PE ratio of -3.18 and a beta of 2.05.

Sesen Bio (NASDAQ:SESN) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.08). On average, research analysts predict that Sesen Bio will post -0.31 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in Sesen Bio by 32.5% during the fourth quarter. Millennium Management LLC now owns 1,099,897 shares of the company’s stock worth $1,562,000 after purchasing an additional 269,863 shares during the period. Vanguard Group Inc grew 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 purchasing an additional 454,950 shares during the period. Vanguard Group Inc. grew 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 purchasing an additional 454,950 shares during the period. Virtu Financial LLC acquired a new stake in Sesen Bio during the first quarter worth approximately $88,000. Finally, Front Street Capital Management Inc. grew its stake in Sesen Bio by 34.4% during the first quarter. Front Street Capital Management Inc. now owns 43,000 shares of the company’s stock worth $44,000 after purchasing an additional 11,000 shares during the period. 39.49% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Stock Symbols Definition, Examples, Lookup

Get a free copy of the Zacks research report on Sesen Bio (SESN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Sesen Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sesen Bio and related companies with MarketBeat.com's FREE daily email newsletter.