Brokerages Set AVEO Pharmaceuticals, Inc. (AVEO) Price Target at $5.42
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) has been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $5.42.
Several research firms have recently weighed in on AVEO. Zacks Investment Research upgraded AVEO Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a report on Monday, November 12th. National Securities cut AVEO Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Tuesday, November 6th. HC Wainwright set a $9.00 price objective on AVEO Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, November 6th. Finally, BidaskClub cut AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 19th.
In other news, major shareholder Equity Opportunities Iv Growth bought 1,200,000 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were acquired at an average price of $1.86 per share, with a total value of $2,232,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Peter W. Sonsini bought 24,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 28th. The stock was purchased at an average cost of $1.99 per share, for a total transaction of $48,755.00. The disclosure for this purchase can be found here. Insiders have bought a total of 1,661,009 shares of company stock worth $3,104,250 in the last quarter. 4.40% of the stock is currently owned by company insiders.
Shares of AVEO opened at $2.02 on Wednesday. AVEO Pharmaceuticals has a 1 year low of $1.49 and a 1 year high of $3.59.
AVEO Pharmaceuticals (NASDAQ:AVEO) last released its quarterly earnings data on Friday, November 9th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The business had revenue of $2.47 million for the quarter, compared to the consensus estimate of $0.68 million. As a group, research analysts predict that AVEO Pharmaceuticals will post -0.26 earnings per share 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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