AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) shares saw an uptick in trading volume on Wednesday after the company announced better than expected quarterly earnings. 196,654 shares traded hands during trading, a decline of 95% from the previous session’s volume of 4,142,819 shares.The stock last traded at $0.63 and had previously closed at $0.56.
The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.09. AVEO Pharmaceuticals had a negative return on equity of 50.69% and a negative net margin of 46.69%. The business had revenue of $25.72 million for the quarter.
Several brokerages have recently issued reports on AVEO. HC Wainwright reaffirmed a “buy” rating and set a $1.75 price target on shares of AVEO Pharmaceuticals in a research note on Tuesday, October 1st. Piper Jaffray Companies cut their target price on AVEO Pharmaceuticals from $4.00 to $2.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $1.92.
The firm has a 50 day simple moving average of $0.81 and a two-hundred day simple moving average of $0.76. The company has a debt-to-equity ratio of 6.84, a current ratio of 2.21 and a quick ratio of 2.21. The stock has a market cap of $81.98 million, a price-to-earnings ratio of -3.68 and a beta of 0.75.
About AVEO Pharmaceuticals (NASDAQ:AVEO)
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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