AVEO Pharmaceuticals (AVEO) Cut to Hold at BidaskClub

AVEO Pharmaceuticals (NASDAQ:AVEO) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.

Separately, HC Wainwright initiated coverage on AVEO Pharmaceuticals in a research report on Thursday, August 16th. They set a “buy” rating and a $6.50 target price on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $5.50.

NASDAQ:AVEO traded down $0.04 during mid-day trading on Friday, hitting $2.49. 2,190,600 shares of the company’s stock traded hands, compared to its average volume of 2,107,064. AVEO Pharmaceuticals has a twelve month low of $1.86 and a twelve month high of $3.59. The firm has a market capitalization of $317.81 million, a P/E ratio of -15.56 and a beta of 1.67. The company has a debt-to-equity ratio of -0.36, a current ratio of 1.16 and a quick ratio of 1.16.

AVEO Pharmaceuticals (NASDAQ:AVEO) last announced its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.09). The company had revenue of $0.43 million during the quarter, compared to the consensus estimate of $1.35 million. On average, analysts expect that AVEO Pharmaceuticals will post -0.25 EPS for the current year.

In other AVEO Pharmaceuticals news, major shareholder Equity Opportunities Iv Growth bought 663,716 shares of AVEO Pharmaceuticals stock in a transaction that occurred on Tuesday, August 21st. The shares were bought at an average cost of $2.26 per share, with a total value of $1,499,998.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. NEA Management Company LLC increased its holdings in shares of AVEO Pharmaceuticals by 8.7% in the second quarter. NEA Management Company LLC now owns 17,783,722 shares of the biopharmaceutical company’s stock valued at $40,091,000 after purchasing an additional 1,421,028 shares during the period. Granahan Investment Management Inc. MA increased its holdings in shares of AVEO Pharmaceuticals by 16.3% in the second quarter. Granahan Investment Management Inc. MA now owns 179,512 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 25,134 shares during the period. Rhumbline Advisers acquired a new position in shares of AVEO Pharmaceuticals in the second quarter valued at about $209,000. Point72 Asset Management L.P. increased its holdings in shares of AVEO Pharmaceuticals by 213.5% in the first quarter. Point72 Asset Management L.P. now owns 940,403 shares of the biopharmaceutical company’s stock valued at $2,727,000 after purchasing an additional 640,403 shares during the period. Finally, Creative Planning acquired a new position in shares of AVEO Pharmaceuticals in the second quarter valued at about $143,000. 50.82% of the stock is currently owned by institutional investors.

AVEO Pharmaceuticals Company Profile

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).

Featured Story: How can you know how many shares are floating?

Receive News & Ratings for AVEO Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AVEO Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply