Equities analysts expect that AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) will post ($0.06) earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for AVEO Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at ($0.05). AVEO Pharmaceuticals posted earnings per share of ($0.02) in the same quarter last year, which suggests a negative year over year growth rate of 200%. The company is expected to issue its next quarterly earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that AVEO Pharmaceuticals will report full-year earnings of ($0.16) per share for the current fiscal year, with EPS estimates ranging from ($0.20) to ($0.12). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.32) per share, with EPS estimates ranging from ($0.61) to ($0.14). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow AVEO Pharmaceuticals.
AVEO Pharmaceuticals (NASDAQ:AVEO) last issued its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.09). The firm had revenue of $0.43 million for the quarter, compared to the consensus estimate of $1.35 million.
Several equities research analysts have recently commented on AVEO shares. BidaskClub upgraded shares of AVEO Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. HC Wainwright started coverage on shares of AVEO Pharmaceuticals in a research note on Thursday, August 16th. They issued a “buy” rating and a $6.50 target price on the stock. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. AVEO Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $5.50.
Shares of NASDAQ:AVEO traded up $0.10 on Monday, hitting $2.70. The stock had a trading volume of 3,202,026 shares, compared to its average volume of 2,098,986. AVEO Pharmaceuticals has a twelve month low of $1.86 and a twelve month high of $3.69. The company has a debt-to-equity ratio of -0.36, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $393.99 million, a PE ratio of -16.88 and a beta of 1.67.
In other news, major shareholder Equity Opportunities Iv Growth bought 250,600 shares of AVEO Pharmaceuticals stock in a transaction dated Thursday, July 19th. The shares were bought at an average price of $1.96 per share, for a total transaction of $491,176.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 4.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its position in AVEO Pharmaceuticals by 396.0% during the 2nd quarter. Northern Trust Corp now owns 1,098,075 shares of the biopharmaceutical company’s stock worth $2,482,000 after buying an additional 876,703 shares in the last quarter. Bank of New York Mellon Corp lifted its position in AVEO Pharmaceuticals by 279.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 288,073 shares of the biopharmaceutical company’s stock worth $651,000 after buying an additional 212,059 shares in the last quarter. Granahan Investment Management Inc. MA lifted its position in AVEO Pharmaceuticals by 16.3% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 179,512 shares of the biopharmaceutical company’s stock worth $406,000 after buying an additional 25,134 shares in the last quarter. BlackRock Inc. lifted its position in AVEO Pharmaceuticals by 271.9% during the 2nd quarter. BlackRock Inc. now owns 6,977,746 shares of the biopharmaceutical company’s stock worth $15,770,000 after buying an additional 5,101,281 shares in the last quarter. Finally, NEA Management Company LLC lifted its position in AVEO Pharmaceuticals by 8.7% during the 2nd quarter. NEA Management Company LLC now owns 17,783,722 shares of the biopharmaceutical company’s stock worth $40,091,000 after buying an additional 1,421,028 shares in the last quarter. Institutional investors and hedge funds own 50.53% of the company’s stock.
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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