AVEO Pharmaceuticals (NASDAQ:AVEO) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of AVEO Pharmaceuticals (NASDAQ:AVEO) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “AVEO Pharmaceuticals, Inc. is a biopharmaceutical company engaged in discovering, developing and commercializing novel cancer therapeutics. Its product candidates are targeted against important mechanisms known or believed to be involved in cancer. Tivozanib, the Company’s lead product candidate, is a highly potent and selective oral inhibitor of the vascular endothelial growth factor, or VEGF, receptors 1, 2 and 3. In addition to tivozanib, AVEO Pharmaceuticals has a pipeline of monoclonal antibodies derived from Human Response Platform (HRP), a novel method of building preclinical models of human cancer, which are intended to more accurately represent cancer biology in patients. AV-299 is the Company’s next product candidate which is an antibody that binds to hepatocyte growth factor, or HGF, thereby blocking its function. AVEO Pharmaceuticals, Inc. is based in Cambridge, Massachusetts. “

Separately, SVB Leerink reaffirmed a buy rating and issued a $18.00 target price on shares of AVEO Pharmaceuticals in a report on Monday, November 15th.

AVEO Pharmaceuticals stock opened at $3.95 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.83 and a quick ratio of 4.77. AVEO Pharmaceuticals has a 52 week low of $3.76 and a 52 week high of $18.24. The stock has a fifty day moving average of $5.60 and a 200-day moving average of $5.98.

AVEO Pharmaceuticals (NASDAQ:AVEO) last posted its quarterly earnings results on Monday, November 8th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. AVEO Pharmaceuticals had a negative return on equity of 105.47% and a negative net margin of 225.54%. The company had revenue of $15.17 million during the quarter, compared to analysts’ expectations of $14.29 million. During the same quarter in the previous year, the firm earned ($0.33) EPS. On average, sell-side analysts anticipate that AVEO Pharmaceuticals will post -1.63 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC bought a new stake in shares of AVEO Pharmaceuticals in the 2nd quarter valued at about $379,000. Baird Financial Group Inc. grew its position in shares of AVEO Pharmaceuticals by 10.8% in the 2nd quarter. Baird Financial Group Inc. now owns 59,185 shares of the biopharmaceutical company’s stock valued at $390,000 after buying an additional 5,753 shares during the last quarter. Ergoteles LLC bought a new stake in shares of AVEO Pharmaceuticals in the 2nd quarter valued at about $645,000. Vanguard Group Inc. grew its position in shares of AVEO Pharmaceuticals by 5.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,447,686 shares of the biopharmaceutical company’s stock valued at $9,541,000 after buying an additional 75,149 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of AVEO Pharmaceuticals in the 2nd quarter valued at about $118,000. 49.60% of the stock is owned by institutional investors and hedge funds.

AVEO Pharmaceuticals Company Profile

AVEO Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the advancement of therapeutics for oncology, and other areas of unmet medical need. Its product candidates include Tivozanib, Ficlatuzmab, AV-203, AV-380 and AV-353. The company was founded by Ronald A. DePinho, Lynda Chin, and Kenneth E.

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