Brokerages Set AVEO Pharmaceuticals, Inc. (AVEO) Target Price at $5.50

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Shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) have received an average recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $5.50.

Several equities research analysts have issued reports on AVEO shares. BidaskClub raised shares of AVEO Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 11th. HC Wainwright started coverage on shares of AVEO Pharmaceuticals in a research report on Thursday, August 16th. They issued a “buy” rating and a $6.50 price objective for the company.

In related news, major shareholder Equity Opportunities Iv Growth acquired 663,716 shares of the stock in a transaction on Tuesday, August 21st. The stock was 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 legal filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. NEA Management Company LLC lifted its position in shares of 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 worth $40,091,000 after purchasing an additional 1,421,028 shares during the period. BlackRock Inc. lifted its position in shares of AVEO Pharmaceuticals by 271.9% in the 2nd quarter. BlackRock Inc. now owns 6,977,746 shares of the biopharmaceutical company’s stock worth $15,770,000 after purchasing an additional 5,101,281 shares during the period. Northern Trust Corp lifted its position in shares of AVEO Pharmaceuticals by 396.0% in the 2nd quarter. Northern Trust Corp now owns 1,098,075 shares of the biopharmaceutical company’s stock worth $2,482,000 after purchasing an additional 876,703 shares during the period. Point72 Asset Management L.P. lifted its position in shares of AVEO Pharmaceuticals by 213.5% in the 1st quarter. Point72 Asset Management L.P. now owns 940,403 shares of the biopharmaceutical company’s stock worth $2,727,000 after purchasing an additional 640,403 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of AVEO Pharmaceuticals by 279.0% in the 2nd 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 period. 50.82% of the stock is owned by hedge funds and other institutional investors.

AVEO Pharmaceuticals stock opened at $2.53 on Tuesday. The stock has a market capitalization of $317.81 million, a price-to-earnings ratio of -15.81 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 has a 1 year low of $1.86 and a 1 year high of $3.59.

AVEO Pharmaceuticals (NASDAQ:AVEO) last released its quarterly earnings data 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 business had revenue of $0.43 million for the quarter, compared to the consensus estimate of $1.35 million. As a group, research analysts expect that AVEO Pharmaceuticals will post -0.25 earnings per share for the current fiscal year.

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).

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