Equities research analysts predict that AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) will announce $740,000.00 in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for AVEO Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $450,000.00 and the highest estimate coming in at $1.03 million. AVEO Pharmaceuticals reported sales of $1.03 million in the same quarter last year, which suggests a negative year-over-year growth rate of 28.2%. The firm is expected to report its next quarterly earnings results on Tuesday, May 14th.
According to Zacks, analysts expect that AVEO Pharmaceuticals will report full year sales of $10.62 million for the current financial year, with estimates ranging from $2.00 million to $24.30 million. For the next financial year, analysts expect that the company will post sales of $18.18 million, with estimates ranging from $3.60 million to $30.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover AVEO Pharmaceuticals.
AVEO Pharmaceuticals (NASDAQ:AVEO) last posted its quarterly earnings data on Thursday, March 14th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.03. The firm had revenue of $1.48 million during the quarter, compared to analysts’ expectations of $2.48 million.
In related news, major shareholder Equity Opportunities Fu Growth bought 4,347,827 shares of the company’s stock in a transaction on Monday, April 8th. The shares were acquired at an average cost of $1.14 per share, for a total transaction of $4,956,522.78. The purchase was disclosed in a filing with the SEC, which is available through this link. 4.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. NEA Management Company LLC grew its stake in AVEO Pharmaceuticals by 11.8% in the 4th quarter. NEA Management Company LLC now owns 20,896,038 shares of the biopharmaceutical company’s stock worth $33,434,000 after acquiring an additional 2,198,000 shares in the last quarter. BlackRock Inc. boosted its stake in shares of AVEO Pharmaceuticals by 3.3% during the fourth quarter. BlackRock Inc. now owns 7,357,716 shares of the biopharmaceutical company’s stock valued at $11,773,000 after purchasing an additional 236,822 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of AVEO Pharmaceuticals by 1.5% during the third quarter. Vanguard Group Inc now owns 5,066,360 shares of the biopharmaceutical company’s stock valued at $16,770,000 after purchasing an additional 73,519 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of AVEO Pharmaceuticals by 1.5% during the third quarter. Vanguard Group Inc. now owns 5,066,360 shares of the biopharmaceutical company’s stock valued at $16,770,000 after purchasing an additional 73,519 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of AVEO Pharmaceuticals by 36.3% during the fourth 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. Institutional investors and hedge funds own 35.72% of the company’s stock.
AVEO Pharmaceuticals stock traded down $0.09 during midday trading on Friday, reaching $1.01. The stock had a trading volume of 4,357,507 shares, compared to its average volume of 7,160,303. AVEO Pharmaceuticals has a 52-week low of $0.49 and a 52-week high of $3.59. The firm has a market capitalization of $140.39 million, a P/E ratio of -5.32 and a beta of 1.19.
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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