AVEO Pharma Receives a Rating Update from a Top Analyst

By Ryan Adsit

B.Riley FBR analyst Madhu Kumar reiterated a Buy rating on AVEO Pharma (NASDAQ: AVEO) today. The company’s shares opened today at $3.01.

Kumar wrote:

“This morning, 3/13/2018, AVEO Pharmaceuticals announced FY17 results and provided a corporate update. After FY17 model updates, we remain optimistic on the opportunity for Fotivda to demonstrate clinical benefit in the Phase III TIVO-3 trial in kidney cancer, which could potentially serve as a key positive catalyst for AVEO shares. We thus reiterate our Buy rating and $5 price target, and AVEO’s status as an Out-the-Gate 2018 Pick.”

According to TipRanks.com, Kumar is a top 100 analyst with an average return of 57.8% and a 73.8% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Deciphera Pharmaceuticals Inc.

AVEO Pharma has an analyst consensus of Moderate Buy.

Based on AVEO Pharma’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $4.61 million and GAAP net loss of $26.4 million. In comparison, last year the company earned revenue of $127K and had a GAAP net loss of $5.61 million.

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AVEO Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the advancement of therapeutics for oncology, and other areas of unmet medical need. Its products include Tivozanib, Ficlatuzmab, AV-203, AV-380, and AV-353. It focuses on the development of Tivozanib, in North America as a treatment for renal cell carcinoma.