In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Sesen Bio Inc (NASDAQ: SESN), with a price target of $3. The company’s shares closed yesterday at $2.07.
Ramakanth wrote:
“We maintain our Buy rating of SESN and our 12-month price target to $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. We derive an rNPV of $217M for the products and add in cash and cash equivalents of $63M to arrive at a 12-month price target of $3.00 per diluted share. (1) clinical; (2) regulatory; (3) commercial; (4) financial; and (5) intellectual property.”
According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 10.1% and a 41.6% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Leap Therapeutics Inc.
Currently, the analyst consensus on Sesen Bio Inc is a Strong Buy with an average price target of $4.
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The company has a one-year high of $3.50 and a one-year low of $0.62. Currently, Sesen Bio Inc has an average volume of 864.9K.
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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.
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