Analysts expect that AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) will post $1.77 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for AVEO Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $450,000.00 and the highest estimate coming in at $3.08 million. AVEO Pharmaceuticals reported sales of $430,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 311.6%. The company is scheduled to issue its next quarterly earnings results on Tuesday, August 6th.
According to Zacks, analysts expect that AVEO Pharmaceuticals will report full year sales of $11.05 million for the current financial year, with estimates ranging from $3.11 million to $24.30 million. For the next 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 a mean average based on a survey of sell-side analysts that follow AVEO Pharmaceuticals.
AVEO Pharmaceuticals (NASDAQ:AVEO) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). AVEO Pharmaceuticals had a negative return on equity of 24.50% and a net margin of 70.30%. The business had revenue of $1.61 million during the quarter, compared to analyst estimates of $0.74 million.
A number of analysts have issued reports on the company. National Securities assumed coverage on AVEO Pharmaceuticals in a research note on Thursday, March 28th. They issued a “sell” rating on the stock. HC Wainwright reissued a “hold” rating and issued a $1.00 price target on shares of AVEO Pharmaceuticals in a research note on Monday, March 18th. Finally, Zacks Investment Research lowered AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $1.96.
NASDAQ:AVEO traded down $0.02 during mid-day trading on Friday, reaching $0.69. The company’s stock had a trading volume of 163,300 shares, compared to its average volume of 2,744,513. The stock’s fifty day moving average price is $0.75. AVEO Pharmaceuticals has a twelve month low of $0.49 and a twelve month high of $3.59. The company has a market cap of $111.62 million, a PE ratio of -3.72 and a beta of 1.26.
In other news, major shareholder Equity Opportunities Fu Growth acquired 4,347,827 shares of AVEO Pharmaceuticals stock in a transaction dated Monday, April 8th. The shares were acquired at an average cost of $1.14 per share, with a total value of $4,956,522.78. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVEO. Geode Capital Management LLC lifted 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 valued at $2,231,000 after purchasing an additional 371,327 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of AVEO Pharmaceuticals during the 4th quarter valued at about $455,000. BlackRock Inc. raised its holdings in shares of AVEO Pharmaceuticals by 3.3% during the 4th quarter. BlackRock Inc. now owns 7,357,716 shares of the biopharmaceutical company’s stock valued at $11,773,000 after buying an additional 236,822 shares during the period. New York State Common Retirement Fund raised its holdings in shares of AVEO Pharmaceuticals by 261.3% during the 4th quarter. New York State Common Retirement Fund now owns 248,600 shares of the biopharmaceutical company’s stock valued at $398,000 after buying an additional 179,800 shares during the period. Finally, WealthTrust Axiom LLC raised its holdings in shares of AVEO Pharmaceuticals by 390.5% during the 1st quarter. WealthTrust Axiom LLC now owns 138,505 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 110,270 shares during the period. 28.31% 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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