Sesen Bio Inc (SESN) Receives a Hold from H.C. Wainwright

By Austin Angelo

H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Hold rating on Sesen Bio Inc (SESNResearch Report) today and set a price target of $1. The company’s shares closed yesterday at $1.13.

Ramakanth said:

“We maintain our Neutral rating of SESN and our 12-month price target of $1.00 per share. We derive our price target based on a risk-adjusted NPV analysis of projected Vicinium and Proxinium revenues through 2030 assuming a 12% discount rate and a 3% terminal growth rate. We derive an rNPV of $45M for the products and add in cash and cash equivalents of $42M to arrive at a 12-month price target of $0.77 per diluted share, which we round to $1.00. (1) clinical; (2) regulatory; (3) commercial; (4) financial; and (5) intellectual property.”

According to TipRanks.com, Ramakanth has currently no stars on a ranking scale of 0-5 stars, with an average return of -10.1% and a 31.1% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Gritstone Oncology Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for Sesen Bio Inc with a $1 average price target.

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Based on Sesen Bio Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $6.48 million. In comparison, last year the company had a GAAP net loss of $3.96 million.

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Sesen Bio, Inc. engages in designing, engineering, and developing of targeted protein therapeutics. It offers the Vicinium and Proxinium which target tumor cell surface antigens that allow for rapid internalization into the targeted cancer cell and also have limited expression on normal cells.