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.

Institutional investors have recently made changes to their positions in the stock. NEA Management Company LLC raised its position in AVEO Pharmaceuticals by 8.7% in the 2nd quarter. NEA Management Company LLC now owns 17,783,722 shares of the biopharmaceutical company’s stock valued at $40,091,000 after buying an additional 1,421,028 shares during the last quarter. Granahan Investment Management Inc. MA raised its position in AVEO Pharmaceuticals by 16.3% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 179,512 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 25,134 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in AVEO Pharmaceuticals by 661.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 218,129 shares of the biopharmaceutical company’s stock valued at $493,000 after buying an additional 189,500 shares during the last quarter. X Square Capital LLC raised its position in AVEO Pharmaceuticals by 18.9% in the 3rd quarter. X Square Capital LLC now owns 284,425 shares of the biopharmaceutical company’s stock valued at $942,000 after buying an additional 45,190 shares during the last quarter. Finally, BlackRock Inc. raised its position in AVEO Pharmaceuticals by 271.9% in the 2nd quarter. BlackRock Inc. now owns 6,977,746 shares of the biopharmaceutical company’s stock valued at $15,770,000 after buying an additional 5,101,281 shares during the last quarter. 40.07% of the stock is currently owned by institutional investors and hedge funds.

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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