Equities research analysts expect AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) to report $1.77 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for AVEO Pharmaceuticals’ earnings. The lowest sales estimate is $450,000.00 and the highest is $3.08 million. AVEO Pharmaceuticals posted sales of $430,000.00 during the same quarter last year, which suggests a positive year over year growth rate of 311.6%. The firm is expected to report its next earnings results on Tuesday, August 6th.
On average, analysts expect that AVEO Pharmaceuticals will report full-year sales of $11.05 million for the current fiscal year, with estimates ranging from $3.11 million to $24.30 million. For the next fiscal year, analysts forecast that the company will report 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 research firms that that provide coverage for AVEO Pharmaceuticals.
AVEO Pharmaceuticals (NASDAQ:AVEO) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $1.61 million for the quarter, compared to analyst estimates of $0.74 million. AVEO Pharmaceuticals had a negative return on equity of 24.50% and a net margin of 70.30%.
Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its position in shares of AVEO Pharmaceuticals by 50.4% during the fourth quarter. Rhumbline Advisers now owns 138,271 shares of the biopharmaceutical company’s stock worth $221,000 after acquiring an additional 46,307 shares during the period. New York State Common Retirement Fund increased its position in shares of AVEO Pharmaceuticals by 261.3% during the fourth quarter. New York State Common Retirement Fund now owns 248,600 shares of the biopharmaceutical company’s stock worth $398,000 after acquiring an additional 179,800 shares during the period. BlackRock Inc. increased its position 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 worth $11,773,000 after acquiring an additional 236,822 shares during the period. Bank of New York Mellon Corp increased its position in shares of AVEO Pharmaceuticals by 28.0% during the fourth quarter. Bank of New York Mellon Corp now owns 423,673 shares of the biopharmaceutical company’s stock worth $678,000 after acquiring an additional 92,663 shares during the period. Finally, Northern Trust Corp increased its position in shares of AVEO Pharmaceuticals by 3.0% during the fourth quarter. Northern Trust Corp now owns 1,175,604 shares of the biopharmaceutical company’s stock worth $1,882,000 after acquiring an additional 34,164 shares during the period. 28.33% of the stock is owned by hedge funds and other institutional investors.
Shares of AVEO traded down $0.01 during mid-day trading on Friday, hitting $0.71. 1,959,940 shares of the company’s stock were exchanged, compared to its average volume of 3,026,099. The firm has a market capitalization of $114.12 million, a P/E ratio of -3.74 and a beta of 0.88. AVEO Pharmaceuticals has a 52 week low of $0.49 and a 52 week high of $3.59. The stock has a 50-day moving average of $0.72.
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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