Wall Street analysts forecast that AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) will report sales of $1.77 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for AVEO Pharmaceuticals’ earnings. The lowest sales estimate is $450,000.00 and the highest is $3.08 million. AVEO Pharmaceuticals posted sales of $430,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 311.6%. The firm is expected to report its next quarterly earnings results on Tuesday, August 6th.
On average, analysts expect that AVEO Pharmaceuticals will report full year sales of $11.05 million for the current year, with estimates ranging from $3.11 million to $24.30 million. For the next fiscal year, analysts forecast that the business will post sales of $18.18 million, with estimates ranging from $3.60 million to $30.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow AVEO Pharmaceuticals.
AVEO Pharmaceuticals (NASDAQ:AVEO) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $1.61 million during the quarter, compared to analysts’ expectations of $0.74 million. AVEO Pharmaceuticals had a net margin of 70.30% and a negative return on equity of 24.50%.
A number of analysts have issued reports on the company. National Securities reaffirmed a “sell” rating and issued a $5.00 target price on shares of Oxford Square Capital in a research note on Thursday, March 28th. Zacks Investment Research downgraded HEXO from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $1.96.
AVEO stock traded down $0.01 during midday trading on Friday, reaching $0.71. The stock had a trading volume of 1,925,446 shares, compared to its average volume of 5,085,601. The firm has a fifty day moving average price of $0.72. The stock has a market cap of $115.89 million, a P/E ratio of -3.74 and a beta of 0.88. AVEO Pharmaceuticals has a 52-week low of $0.49 and a 52-week high of $3.59.
Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of AVEO Pharmaceuticals by 3.3% in the 4th quarter. BlackRock Inc. now owns 7,357,716 shares of the biopharmaceutical company’s stock worth $11,773,000 after acquiring an additional 236,822 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of AVEO Pharmaceuticals by 36.3% in the 4th quarter. Geode Capital Management LLC now owns 1,394,576 shares of the biopharmaceutical company’s stock worth $2,231,000 after acquiring an additional 371,327 shares during the last quarter. Northern Trust Corp increased its stake in shares of AVEO Pharmaceuticals by 3.0% in the 4th quarter. Northern Trust Corp now owns 1,175,604 shares of the biopharmaceutical company’s stock worth $1,882,000 after acquiring an additional 34,164 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of AVEO Pharmaceuticals by 28.0% in the 4th quarter. Bank of New York Mellon Corp now owns 423,673 shares of the biopharmaceutical company’s stock worth $678,000 after acquiring an additional 92,663 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of AVEO Pharmaceuticals by 7.2% during the 4th quarter. Two Sigma Advisers LP now owns 422,000 shares of the biopharmaceutical company’s stock worth $675,000 after purchasing an additional 28,500 shares during the last quarter. 28.33% of the stock is owned by institutional investors and hedge funds.
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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