HC Wainwright Reiterates $9.00 Price Target for AVEO Pharmaceuticals (AVEO)

HC Wainwright set a $9.00 price target on AVEO Pharmaceuticals (NASDAQ:AVEO) in a research note released on Thursday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently commented on AVEO. National Securities downgraded AVEO Pharmaceuticals from a buy rating to a neutral rating in a research report on Tuesday, November 6th. Zacks Investment Research downgraded AVEO Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, October 23rd. Finally, BidaskClub downgraded AVEO Pharmaceuticals from a buy rating to a hold rating in a research report on Friday, October 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $5.42.

Shares of NASDAQ:AVEO opened at $1.95 on Thursday. AVEO Pharmaceuticals has a 52 week low of $1.49 and a 52 week high of $3.59.

AVEO Pharmaceuticals (NASDAQ:AVEO) last announced its quarterly earnings data on Friday, November 9th. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. The business had revenue of $2.47 million during the quarter, compared to analysts’ expectations of $0.68 million. Research analysts anticipate that AVEO Pharmaceuticals will post -0.26 EPS for the current fiscal year.

In other AVEO Pharmaceuticals news, major shareholder Peter W. Sonsini acquired 24,500 shares of the stock in a transaction dated Wednesday, November 28th. The stock was acquired at an average price of $1.99 per share, with a total value of $48,755.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Peter W. Sonsini acquired 27,300 shares of the stock in a transaction dated Thursday, December 6th. The stock was acquired at an average cost of $1.99 per share, with a total value of $54,327.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,858,709 shares of company stock valued at $3,497,673. Company insiders own 4.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of AVEO. BlackRock Inc. boosted its holdings in AVEO Pharmaceuticals by 271.9% in the second quarter. BlackRock Inc. now owns 6,977,746 shares of the biopharmaceutical company’s stock valued at $15,770,000 after acquiring an additional 5,101,281 shares during the last quarter. NEA Management Company LLC boosted its holdings in 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 valued at $40,091,000 after acquiring an additional 1,421,028 shares during the last quarter. Northern Trust Corp boosted its holdings in AVEO Pharmaceuticals by 396.0% in the second quarter. Northern Trust Corp now owns 1,098,075 shares of the biopharmaceutical company’s stock valued at $2,482,000 after acquiring an additional 876,703 shares during the last quarter. Fosun International Ltd acquired a new position in AVEO Pharmaceuticals in the third quarter valued at $1,090,000. Finally, Bank of New York Mellon Corp boosted its holdings in 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 valued at $651,000 after acquiring an additional 212,059 shares during the last quarter. Hedge funds and other institutional investors own 40.07% 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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