Wall Street brokerages predict that AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) will post $2.48 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for AVEO Pharmaceuticals’ earnings. The highest sales estimate is $2.80 million and the lowest is $2.15 million. AVEO Pharmaceuticals reported sales of $80,000.00 in the same quarter last year, which indicates a positive year-over-year growth rate of 3,000%. The firm is expected to issue its next earnings results on Tuesday, March 12th.
On average, analysts expect that AVEO Pharmaceuticals will report full year sales of $5.77 million for the current financial year, with estimates ranging from $4.00 million to $6.70 million. For the next financial year, analysts expect that the company will post sales of $11.88 million, with estimates ranging from $5.00 million to $24.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover AVEO Pharmaceuticals.
AVEO Pharmaceuticals (NASDAQ:AVEO) last announced its quarterly earnings results on Friday, November 9th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $2.47 million for the quarter, compared to analyst estimates of $0.68 million.
Several equities research analysts have recently issued reports on the company. National Securities lowered AVEO Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Tuesday, November 6th. Zacks Investment Research lowered AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. HC Wainwright set a $7.00 price target on AVEO Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, October 23rd. B. Riley reiterated a “neutral” rating and set a $1.00 price target (down from $5.00) on shares of AVEO Pharmaceuticals in a report on Monday, February 4th. Finally, BidaskClub lowered AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 19th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $2.21.
Shares of AVEO Pharmaceuticals stock remained flat at $$0.59 during trading on Monday. The stock had a trading volume of 2,706,318 shares, compared to its average volume of 3,321,314. The firm has a market cap of $73.96 million, a price-to-earnings ratio of -3.66 and a beta of 1.26. AVEO Pharmaceuticals has a fifty-two week low of $0.56 and a fifty-two week high of $3.59.
In related news, Director Anthony B. Evnin sold 325,139 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $1.90, for a total value of $617,764.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Equity Opportunities Iv Growth acquired 1,200,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was bought at an average cost of $1.86 per share, for a total transaction of $2,232,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 2,358,709 shares of company stock worth $4,272,673 over the last three months. 4.40% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of AVEO Pharmaceuticals by 2.1% in the 3rd quarter. BlackRock Inc. now owns 7,120,894 shares of the biopharmaceutical company’s stock valued at $23,570,000 after acquiring an additional 143,148 shares in the last quarter. NEA Management Company LLC increased its position in AVEO Pharmaceuticals by 5.1% in the 3rd quarter. NEA Management Company LLC now owns 18,698,038 shares of the biopharmaceutical company’s stock worth $61,891,000 after buying an additional 914,316 shares during the period. Hikari Power Ltd bought a new position in AVEO Pharmaceuticals in the 4th quarter worth approximately $128,000. Schwab Charles Investment Management Inc. increased 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 worth $493,000 after buying an additional 189,500 shares during the period. Finally, MetLife Investment Advisors LLC bought a new position in AVEO Pharmaceuticals in the 3rd quarter worth approximately $275,000. 42.03% of the stock is currently owned by institutional investors and hedge funds.
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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