Zacks: Brokerages Expect AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) to Post -$0.28 Earnings Per Share

Wall Street brokerages forecast that AVEO Pharmaceuticals, Inc. (NASDAQ:AVEOGet Rating) will report ($0.28) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for AVEO Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.32) and the highest is ($0.24). AVEO Pharmaceuticals reported earnings per share of ($0.48) in the same quarter last year, which suggests a positive year over year growth rate of 41.7%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that AVEO Pharmaceuticals will report full-year earnings of ($1.06) per share for the current fiscal year, with EPS estimates ranging from ($1.25) to ($0.79). For the next financial year, analysts expect that the firm will report earnings of ($0.03) per share, with EPS estimates ranging from ($0.40) to $0.15. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for AVEO Pharmaceuticals.

AVEO Pharmaceuticals (NASDAQ:AVEOGet Rating) last released its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). AVEO Pharmaceuticals had a negative return on equity of 90.63% and a negative net margin of 67.57%. During the same quarter in the prior year, the company earned ($0.72) EPS.

A number of equities analysts have recently commented on the stock. Jonestrading assumed coverage on shares of AVEO Pharmaceuticals in a report on Monday, March 14th. They set a “buy” rating for the company. Zacks Investment Research raised shares of AVEO Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, March 17th. Finally, StockNews.com started coverage on shares of AVEO Pharmaceuticals in a report on Thursday, March 31st. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $18.50.

Shares of NASDAQ:AVEO traded up $0.05 during midday trading on Friday, reaching $4.20. 13,255 shares of the company’s stock were exchanged, compared to its average volume of 232,703. The company’s 50 day simple moving average is $5.16 and its two-hundred day simple moving average is $4.94. The firm has a market capitalization of $144.82 million, a PE ratio of -3.43 and a beta of 1.17. AVEO Pharmaceuticals has a 12 month low of $3.06 and a 12 month high of $7.59. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.73 and a current ratio of 4.81.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in AVEO Pharmaceuticals by 11.2% during the 3rd quarter. BlackRock Inc. now owns 532,605 shares of the biopharmaceutical company’s stock valued at $3,292,000 after purchasing an additional 53,813 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in AVEO Pharmaceuticals in the 3rd quarter valued at about $800,000. AIGH Capital Management LLC acquired a new stake in AVEO Pharmaceuticals in the 3rd quarter valued at about $12,275,000. Geode Capital Management LLC increased its position in AVEO Pharmaceuticals by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 249,969 shares of the biopharmaceutical company’s stock valued at $1,544,000 after acquiring an additional 4,324 shares in the last quarter. Finally, Shay Capital LLC acquired a new stake in AVEO Pharmaceuticals in the 4th quarter valued at about $62,000. 52.61% of the stock is owned by hedge funds and other institutional investors.

About AVEO Pharmaceuticals (Get Rating)

AVEO Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing medicines for cancer patients. It markets its lead candidate, FOTIVDA, an oral, once-daily, vascular endothelial growth factor receptor tyrosine kinase inhibitor, which is used for the treatment of renal cell carcinoma (RCC); and tivozanib for the treatment of RCC, HCC, immunologically cold tumors, and CCA.

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