H.C. Wainwright Keeps Their Buy Rating on AVEO Pharma (AVEO)

By Carrie Williams

In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on AVEO Pharma (AVEOResearch Report), with a price target of $19.00. The company’s shares closed last Friday at $6.13, close to its 52-week low of $4.07.

According to TipRanks.com, Ramakanth is a 5-star analyst with an average return of 31.6% and a 48.6% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals, Corvus Pharmaceuticals, and Janux Therapeutics Inc.

Currently, the analyst consensus on AVEO Pharma is a Strong Buy with an average price target of $20.33.

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Based on AVEO Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.92 million and GAAP net loss of $22.12 million. In comparison, last year the company earned revenue of $784K and had a GAAP net loss of $8.38 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 product candidates include Tivozanib, Ficlatuzmab, AV-203, AV-380 and AV-353. The company was founded by Ronald A. DePinho, Lynda Chin, and Kenneth E. Weg on October 19, 2001 and is headquartered in Cambridge, MA.