BidaskClub Downgrades AVEO Pharmaceuticals (NASDAQ:AVEO) to Strong Sell

AVEO Pharmaceuticals (NASDAQ:AVEO) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, January 9th.

AVEO has been the subject of several other research reports. Zacks Investment Research downgraded shares of AVEO Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. Seaport Global Securities reaffirmed a “buy” rating on shares of AVEO Pharmaceuticals in a research note on Friday, October 6th. B. Riley assumed coverage on shares of AVEO Pharmaceuticals in a research note on Monday, November 13th. They set a “buy” rating and a $5.00 price target for the company. Finally, assumed coverage on shares of AVEO Pharmaceuticals in a research note on Wednesday, November 15th. They set a “buy” rating and a $5.00 price target for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. AVEO Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $4.05.

Shares of AVEO Pharmaceuticals (NASDAQ AVEO) traded down $0.09 during midday trading on Tuesday, reaching $2.99. 2,000,000 shares of the company’s stock traded hands, compared to its average volume of 1,693,270. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of -0.32. AVEO Pharmaceuticals has a twelve month low of $0.50 and a twelve month high of $4.24. The company has a market capitalization of $353.78, a P/E ratio of -4.21 and a beta of 1.30.

AVEO Pharmaceuticals (NASDAQ:AVEO) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The company had revenue of $4.61 million for the quarter, compared to the consensus estimate of $6.50 million. research analysts predict that AVEO Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new stake in shares of AVEO Pharmaceuticals during the third quarter valued at $164,000. Fore Research & Management LP purchased a new stake in shares of AVEO Pharmaceuticals during the second quarter valued at $111,000. Rehmann Capital Advisory Group purchased a new stake in shares of AVEO Pharmaceuticals during the third quarter valued at $193,000. OxFORD Asset Management LLP purchased a new stake in shares of AVEO Pharmaceuticals during the third quarter valued at $228,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of AVEO Pharmaceuticals during the third quarter valued at $550,000. 50.94% of the stock is currently owned by hedge funds and other institutional investors.

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About AVEO Pharmaceuticals

AVEO Pharmaceuticals, Inc is a biopharmaceutical company. The Company’s platform delivers insights into cancer and related disease. The Company’s product candidates include Tivozanib, Ficlatuzumab, AV-203 and AV-380. Tivozanib is a selective long half-life vascular endothelial growth factor tyrosine kinase inhibitor (VEGF TKI) that inhibits over three VEGF receptors.

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