ValuEngine Upgrades Sesen Bio (SESN) to Buy

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ValuEngine upgraded shares of Sesen Bio (NASDAQ:SESN) from a hold rating to a buy rating in a research report released on Wednesday morning.

Several other equities research analysts have also recently weighed in on SESN. Jefferies Financial Group started coverage on Sesen Bio in a research note on Monday, July 23rd. They set a buy rating and a $4.00 target price for the company. Zacks Investment Research cut Sesen Bio from a buy rating to a hold rating in a research note on Wednesday, July 25th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $3.17.

Shares of Sesen Bio stock traded down $0.07 on Wednesday, reaching $1.79. 1,345,685 shares of the company were exchanged, compared to its average volume of 736,364. The company has a market cap of $118.60 million, a PE ratio of -1.61 and a beta of 2.88. Sesen Bio has a 1-year low of $0.62 and a 1-year high of $3.50.

Sesen Bio (NASDAQ:SESN) last posted its earnings results on Thursday, November 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.08). On average, analysts forecast that Sesen Bio will post -0.39 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Hikari Power Ltd purchased a new stake in Sesen Bio during the third quarter worth approximately $141,000. Bank of New York Mellon Corp purchased a new stake in Sesen Bio during the second quarter worth approximately $147,000. MYDA Advisors LLC purchased a new stake in Sesen Bio during the second quarter worth approximately $195,000. DRW Securities LLC purchased a new stake in Sesen Bio during the second quarter worth approximately $293,000. Finally, Northern Trust Corp purchased a new stake in Sesen Bio during the second quarter worth approximately $315,000. Hedge funds and other institutional investors own 52.09% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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