Brokerages expect AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) to report $680,000.00 in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for AVEO Pharmaceuticals’ earnings. The lowest sales estimate is $630,000.00 and the highest is $730,000.00. AVEO Pharmaceuticals posted sales of $4.61 million in the same quarter last year, which indicates a negative year-over-year growth rate of 85.2%. The firm is scheduled to report its next quarterly earnings results on Tuesday, November 6th.
On average, analysts expect that AVEO Pharmaceuticals will report full year sales of $5.06 million for the current fiscal year, with estimates ranging from $2.83 million to $7.40 million. For the next financial year, analysts anticipate that the business will report sales of $16.58 million, with estimates ranging from $10.88 million to $23.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for AVEO Pharmaceuticals.
AVEO Pharmaceuticals (NASDAQ:AVEO) last released its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The company had revenue of $0.43 million for the quarter, compared to analyst estimates of $1.35 million.
Several research firms recently weighed in on AVEO. National Securities cut shares of AVEO Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Tuesday. HC Wainwright set a $9.00 target price on shares of AVEO Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research cut shares of AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Finally, BidaskClub raised shares of AVEO Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $6.33.
In other news, major shareholder Equity Opportunities Iv Growth bought 663,716 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was acquired at an average cost of $2.26 per share, with a total value of $1,499,998.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its position in AVEO Pharmaceuticals by 56.8% during the third quarter. Wells Fargo & Company MN now owns 195,143 shares of the biopharmaceutical company’s stock worth $646,000 after purchasing an additional 70,678 shares during the period. Birchview Capital LP boosted its position in AVEO Pharmaceuticals by 20.0% during the third quarter. Birchview Capital LP now owns 120,000 shares of the biopharmaceutical company’s stock worth $397,000 after purchasing an additional 20,000 shares during the period. Northern Trust Corp boosted its position in AVEO Pharmaceuticals by 396.0% during the second 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. Bank of New York Mellon Corp boosted its position in AVEO Pharmaceuticals by 279.0% during the second 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. Finally, Granahan Investment Management Inc. MA boosted its position in AVEO Pharmaceuticals by 16.3% during the second quarter. Granahan Investment Management Inc. MA now owns 179,512 shares of the biopharmaceutical company’s stock worth $406,000 after purchasing an additional 25,134 shares during the period. 50.84% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:AVEO traded down $0.04 during midday trading on Friday, hitting $1.99. The stock had a trading volume of 200,860 shares, compared to its average volume of 2,761,383. AVEO Pharmaceuticals has a 12 month low of $1.86 and a 12 month high of $3.59. The stock has a market capitalization of $332.09 million, a PE ratio of -12.44 and a beta of 2.00.
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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