Research analysts at B. Riley initiated coverage on shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) in a research note issued on Monday. The firm set a “buy” rating and a $5.00 price target on the biopharmaceutical company’s stock. B. Riley’s price target points to a potential upside of 68.35% from the stock’s current price. B. Riley also issued estimates for AVEO Pharmaceuticals’ Q4 2017 earnings at $0.02 EPS, FY2017 earnings at ($0.58) EPS, Q1 2018 earnings at ($0.06) EPS, Q2 2018 earnings at ($0.06) EPS, Q3 2018 earnings at ($0.06) EPS, Q4 2018 earnings at ($0.06) EPS, FY2018 earnings at ($0.21) EPS, FY2019 earnings at ($0.17) EPS, FY2020 earnings at $0.03 EPS and FY2021 earnings at $0.17 EPS.

A number of other brokerages have also commented on AVEO. Seaport Global Securities reiterated a “buy” rating on shares of AVEO Pharmaceuticals in a report on Friday, October 6th. Piper Jaffray Companies boosted their price objective on shares of AVEO Pharmaceuticals from $3.80 to $4.50 and gave the stock an “overweight” rating in a report on Monday, August 28th. BidaskClub upgraded shares of AVEO Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Finally, Zacks Investment Research upgraded shares of AVEO Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $4.05.

Shares of AVEO Pharmaceuticals (AVEO) traded down $0.12 during mid-day trading on Monday, reaching $2.97. 1,887,200 shares of the company’s stock were exchanged, compared to its average volume of 3,206,116. AVEO Pharmaceuticals has a 52-week low of $0.50 and a 52-week high of $4.24. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of -0.32.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RA Capital Management LLC acquired a new stake in AVEO Pharmaceuticals during the second quarter worth about $18,727,000. Vanguard Group Inc. grew its position in AVEO Pharmaceuticals by 48.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,551,360 shares of the biopharmaceutical company’s stock worth $7,884,000 after purchasing an additional 1,162,232 shares during the last quarter. EAM Investors LLC bought a new position in AVEO Pharmaceuticals in the 2nd quarter worth about $1,979,000. Paloma Partners Management Co bought a new position in AVEO Pharmaceuticals in the 1st quarter worth about $184,000. Finally, Essex Investment Management Co. LLC bought a new position in AVEO Pharmaceuticals in the 3rd quarter worth about $550,000. Hedge funds and other institutional investors own 53.94% of the company’s stock.

AVEO Pharmaceuticals Company Profile

AVEO Pharmaceuticals, Inc is a biopharmaceutical company. The Company’s platform delivers insights into cancer and related disease. The Company’s product candidates include Tivozanib, Ficlatuzumab, AV-203 and AV-380. Tivozanib is a selective long half-life vascular endothelial growth factor tyrosine kinase inhibitor (VEGF TKI) that inhibits over three VEGF receptors.

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