Brokerages Set AVEO Pharmaceuticals, Inc. (AVEO) Price Target at $5.42

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AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) has been assigned an average rating of “Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.42.

Several research analysts have issued reports on AVEO shares. National Securities lowered AVEO Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 6th. BidaskClub upgraded AVEO Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. HC Wainwright set a $9.00 price objective on AVEO Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Finally, Zacks Investment Research lowered AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd.

Shares of AVEO stock opened at $2.02 on Wednesday. AVEO Pharmaceuticals has a one year low of $1.49 and a one 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 (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $2.47 million for the quarter, compared to analyst estimates of $0.68 million. Research analysts predict that AVEO Pharmaceuticals will post -0.26 EPS for the current fiscal year.

In other news, Director Anthony B. Evnin sold 325,139 shares of the firm’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Equity Opportunities Iv Growth bought 1,200,000 shares of the stock in a transaction dated Monday, November 19th. The stock was acquired at an average price of $1.86 per share, with a total value of $2,232,000.00. The disclosure for this purchase can be found here. Insiders have acquired 1,661,009 shares of company stock valued at $3,104,250 over the last quarter. Corporate insiders own 4.40% of the company’s stock.

Several large investors have recently made changes to their positions in the company. NEA Management Company LLC increased its stake in shares of AVEO Pharmaceuticals by 5.1% in the third quarter. NEA Management Company LLC now owns 18,698,038 shares of the biopharmaceutical company’s stock valued at $61,891,000 after buying an additional 914,316 shares in the last quarter. BlackRock Inc. increased its stake in shares of AVEO Pharmaceuticals by 2.1% in the third quarter. BlackRock Inc. now owns 7,120,894 shares of the biopharmaceutical company’s stock valued at $23,570,000 after buying an additional 143,148 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of AVEO Pharmaceuticals by 1.5% in the third quarter. Vanguard Group Inc. now owns 5,066,360 shares of the biopharmaceutical company’s stock valued at $16,770,000 after buying an additional 73,519 shares in the last quarter. Northern Trust Corp increased its stake in shares of AVEO Pharmaceuticals by 396.0% in the second quarter. Northern Trust Corp now owns 1,098,075 shares of the biopharmaceutical company’s stock valued at $2,482,000 after buying an additional 876,703 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of AVEO Pharmaceuticals by 14.9% in the third quarter. Bank of New York Mellon Corp now owns 331,010 shares of the biopharmaceutical company’s stock valued at $1,096,000 after buying an additional 42,937 shares in the last quarter. Institutional investors own 40.07% of the company’s stock.

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).

See Also: Balanced Fund

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