AVEO Pharmaceuticals Inc. (NASDAQ:AVEO) has been given an average rating of “Buy” by the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $4.38.
Several analysts have issued reports on AVEO shares. BidaskClub raised AVEO Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 24th. ValuEngine raised AVEO Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded AVEO Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, May 4th.
In other AVEO Pharmaceuticals news, major shareholder Ravi Viswanathan acquired 685,676 shares of the stock in a transaction dated Friday, April 6th. The shares were acquired at an average cost of $2.24 per share, for a total transaction of $1,535,914.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Peter J. Barris acquired 920,976 shares of the stock in a transaction dated Tuesday, April 10th. The stock was acquired at an average price of $2.30 per share, for a total transaction of $2,118,244.80. The disclosure for this purchase can be found here. Insiders bought 1,677,525 shares of company stock worth $3,805,119 over the last 90 days. Company insiders own 4.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of AVEO Pharmaceuticals in the fourth quarter valued at about $108,000. Verition Fund Management LLC purchased a new position in shares of AVEO Pharmaceuticals in the first quarter valued at about $122,000. Bank of New York Mellon Corp lifted its position in shares of AVEO Pharmaceuticals by 40.2% in the fourth quarter. Bank of New York Mellon Corp now owns 91,625 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 26,278 shares in the last quarter. Birchview Capital LP purchased a new position in shares of AVEO Pharmaceuticals in the first quarter valued at about $290,000. Finally, Wells Fargo & Company MN purchased a new position in shares of AVEO Pharmaceuticals in the fourth quarter valued at about $298,000. Institutional investors and hedge funds own 51.59% of the company’s stock.
NASDAQ:AVEO opened at $2.16 on Friday. AVEO Pharmaceuticals has a 52-week low of $0.63 and a 52-week high of $4.24. The company has a debt-to-equity ratio of -0.36, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $259.13 million, a price-to-earnings ratio of -13.50 and a beta of 1.41.
AVEO Pharmaceuticals (NASDAQ:AVEO) last released its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01). The business had revenue of $1.03 million during the quarter, compared to analyst estimates of $0.98 million. equities research analysts predict that AVEO Pharmaceuticals will post -0.27 EPS for the current year.
About AVEO Pharmaceuticals
AVEO Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes a portfolio of targeted medicines for oncology and other areas of unmet medical need. It markets its lead candidate, tivozanib, an oral, once-daily, vascular endothelial growth factor receptor tyrosine kinase inhibitor, which is used for the treatment of renal cell carcinoma (RCC).
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