H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Sesen Bio Inc (SESN) today and set a price target of $3. The company’s shares closed on Friday at $1.79.
Ramakanth commented:
“We maintain our Buy rating of SESN and our 12-month price target of $3.00 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 3% terminal growth rate.”
According to TipRanks.com, Ramakanth is a 2-star analyst with an average return of 0.7% and a 34.4% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Trillium Therapeutics.
Currently, the analyst consensus on Sesen Bio Inc is a Moderate Buy with an average price target of $3.
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The company has a one-year high of $3.50 and a one-year low of $0.63. Currently, Sesen Bio Inc has an average volume of 1.03M.
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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.
