National Securities lowered shares of AVEO Pharmaceuticals (NASDAQ:AVEO) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, The Fly reports.
Several other equities research analysts have also recently issued reports on the company. BidaskClub upgraded AVEO Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Tuesday, September 11th. HC Wainwright set a $7.00 price target on AVEO Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, October 23rd. Finally, Zacks Investment Research cut AVEO Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, October 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $6.33.
Shares of AVEO stock traded down $0.14 during trading on Tuesday, hitting $1.86. The company had a trading volume of 4,898,923 shares, compared to its average volume of 3,896,796. The stock has a market cap of $239.25 million, a P/E ratio of -11.63 and a beta of 2.00. AVEO Pharmaceuticals has a one year low of $1.78 and a one year high of $3.59.
AVEO Pharmaceuticals (NASDAQ:AVEO) last issued its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The company had revenue of $0.43 million during the quarter, compared to analyst estimates of $1.35 million. On average, equities research analysts predict that AVEO Pharmaceuticals will post -0.25 earnings per share for the current fiscal year.
In related news, major shareholder Equity Opportunities Iv Growth purchased 663,716 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was acquired at an average cost of $2.26 per share, for a total transaction of $1,499,998.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVEO. Creative Planning bought a new stake in AVEO Pharmaceuticals during the second quarter worth $143,000. Rhumbline Advisers bought a new stake in AVEO Pharmaceuticals during the second quarter worth $209,000. Bank of New York Mellon Corp lifted its stake in AVEO Pharmaceuticals by 279.0% during the second quarter. Bank of New York Mellon Corp now owns 288,073 shares of the biopharmaceutical company’s stock worth $651,000 after purchasing an additional 212,059 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in AVEO Pharmaceuticals by 661.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 218,129 shares of the biopharmaceutical company’s stock worth $493,000 after purchasing an additional 189,500 shares during the last quarter. Finally, NEA Management Company LLC lifted its stake in AVEO Pharmaceuticals by 8.7% during the second quarter. NEA Management Company LLC now owns 17,783,722 shares of the biopharmaceutical company’s stock worth $40,091,000 after purchasing an additional 1,421,028 shares during the last quarter. Hedge funds and other institutional investors own 50.84% 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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