AVEO Pharmaceuticals, Inc. (AVEO) Expected to Post Quarterly Sales of $680,000.00

Wall Street brokerages predict that AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) will announce sales of $680,000.00 for the current quarter, Zacks Investment Research reports. 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 reported sales of $4.61 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 85.2%. The firm is expected to issue its next quarterly earnings results on Tuesday, November 13th.

On average, analysts expect that AVEO Pharmaceuticals will report full year sales of $5.06 million for the current financial year, with estimates ranging from $2.83 million to $7.40 million. For the next financial year, analysts anticipate that the firm will report sales of $13.06 million, with estimates ranging from $5.00 million to $23.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow AVEO Pharmaceuticals.

AVEO Pharmaceuticals (NASDAQ:AVEO) last posted its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.09). The company had revenue of $0.43 million for the quarter, compared to analysts’ expectations of $1.35 million.

Several analysts recently weighed in on AVEO shares. BidaskClub upgraded shares of AVEO Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. HC Wainwright started coverage on shares of AVEO Pharmaceuticals in a report on Thursday, August 16th. They issued a “buy” rating and a $6.50 target price for the company. Zacks Investment Research downgraded shares of AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Finally, National Securities downgraded shares of AVEO Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $6.33.

AVEO Pharmaceuticals stock traded down $0.14 during trading on Friday, hitting $1.86. The company had a trading volume of 4,909,500 shares, compared to its average volume of 2,284,773. AVEO Pharmaceuticals has a 1-year low of $1.78 and a 1-year high of $3.59. The company has a market capitalization of $241.63 million, a PE ratio of -11.63 and a beta of 2.00.

In related news, major shareholder Equity Opportunities Iv Growth bought 663,716 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was purchased at an average price of $2.26 per share, for a total transaction of $1,499,998.16. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.40% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of AVEO. Creative Planning acquired a new position in shares of AVEO Pharmaceuticals in the second quarter worth $143,000. Rhumbline Advisers acquired a new position in shares of AVEO Pharmaceuticals in the second quarter worth $209,000. Bank of New York Mellon Corp grew its stake in shares of AVEO Pharmaceuticals by 279.0% in the second quarter. Bank of New York Mellon Corp now owns 288,073 shares of the biopharmaceutical company’s stock worth $651,000 after acquiring an additional 212,059 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of AVEO Pharmaceuticals by 661.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 218,129 shares of the biopharmaceutical company’s stock worth $493,000 after acquiring an additional 189,500 shares in the last quarter. Finally, NEA Management Company LLC grew its stake in shares of AVEO Pharmaceuticals by 8.7% in the second quarter. NEA Management Company LLC now owns 17,783,722 shares of the biopharmaceutical company’s stock worth $40,091,000 after acquiring an additional 1,421,028 shares in the last quarter. Institutional investors and hedge funds own 50.84% 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).

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