Brokerages Expect AVEO Pharmaceuticals, Inc. (AVEO) to Post -$0.05 Earnings Per Share

Brokerages expect AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) to announce earnings of ($0.05) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for AVEO Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.07) and the highest is ($0.04). AVEO Pharmaceuticals posted earnings per share of ($0.08) in the same quarter last year, which would indicate a positive year over year growth rate of 37.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, March 12th.

According to Zacks, analysts expect that AVEO Pharmaceuticals will report full-year earnings of ($0.21) per share for the current year, with EPS estimates ranging from ($0.30) to ($0.12). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.28) per share, with EPS estimates ranging from ($0.50) to ($0.14). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for AVEO Pharmaceuticals.

AVEO Pharmaceuticals (NASDAQ:AVEO) last announced its quarterly earnings data on Friday, November 9th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of $2.47 million for the quarter, compared to analysts’ expectations of $0.68 million.

A number of equities research analysts have recently weighed in on AVEO shares. Zacks Investment Research raised shares of AVEO Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a report on Monday, November 12th. HC Wainwright set a $9.00 target price on shares of AVEO Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, November 6th. BidaskClub upgraded shares of AVEO Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Finally, National Securities downgraded shares of AVEO Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 6th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. AVEO Pharmaceuticals currently has an average rating of “Buy” and an average target price of $5.42.

Shares of AVEO traded up $0.06 during trading hours on Friday, reaching $2.07. 3,360,241 shares of the company traded hands, compared to its average volume of 3,596,023. The firm has a market capitalization of $259.47 million, a PE ratio of -12.94 and a beta of 2.00. AVEO Pharmaceuticals has a 12-month low of $1.49 and a 12-month high of $3.59.

In other news, major shareholder Equity Opportunities Iv Growth acquired 96,400 shares of the firm’s stock in a transaction on Friday, November 30th. The stock was acquired at an average price of $1.98 per share, for a total transaction of $190,872.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Peter W. Sonsini acquired 24,500 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was purchased at an average price of $1.99 per share, with a total value of $48,755.00. The disclosure for this purchase can be found here. Insiders have purchased 1,661,009 shares of company stock valued at $3,104,250 over the last 90 days. 4.40% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position 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 worth $16,770,000 after acquiring an additional 73,519 shares during the period. Teachers Advisors LLC raised its position in shares of AVEO Pharmaceuticals by 75.8% in the third quarter. Teachers Advisors LLC now owns 227,334 shares of the biopharmaceutical company’s stock worth $752,000 after acquiring an additional 98,009 shares during the period. MetLife Investment Advisors LLC acquired a new position in shares of AVEO Pharmaceuticals in the third quarter worth about $275,000. X Square Capital LLC raised its position in shares of AVEO Pharmaceuticals by 18.9% in the third quarter. X Square Capital LLC now owns 284,425 shares of the biopharmaceutical company’s stock worth $942,000 after acquiring an additional 45,190 shares during the period. Finally, NEA Management Company LLC raised its position 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 worth $61,891,000 after acquiring an additional 914,316 shares during the period. Institutional investors and hedge funds own 49.77% of the company’s stock.

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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