Canaccord Genuity Analysts Begin Coverage on Aveo Pharmaceuticals (AVEO)

By admin | 6 years ago

Investment analysts at Canaccord Genuity began coverage on shares of Aveo Pharmaceuticals (NASDAQ: AVEO) in a note issued to investors on Monday. The firm set a “buy” rating on the stock.

Shares of Aveo Pharmaceuticals traded up 4.96% during mid-day trading on Monday, hitting $12.07. Aveo Pharmaceuticals has a 52 week low of $10.40 and a 52 week high of $21.55. The company has a market cap of $525.7 million and a P/E ratio of 15.58.

The company last announced its quarterly results on Tuesday, February 14th. It reported ($0.58) earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of ($0.64) EPS by $0.06. The company’s quarterly revenue was down 90.8% on a year-over-year basis. On average, analysts predict that Aveo Pharmaceuticals will post $-0.85 earnings per share next quarter.

A number of other firms have also recently commented on AVEO. Analysts at TheStreet downgraded shares of Aveo Pharmaceuticals to a “sell” rating in a research note to investors on Monday, April 9th. Separately, analysts at BMO Capital Markets initiated coverage on shares of Aveo Pharmaceuticals in a research note to investors on Tuesday, March 13rd. They set a “market perform” rating on the stock. Finally, analysts at Morgan Stanley (NYSE: MS) initiated coverage on shares of Aveo Pharmaceuticals in a research note to investors on Friday, February 10th. They set an “equal weight” rating on the stock.

AVEO Pharmaceuticals, Inc. (AVEO) is a biopharmaceutical company focused on discovering, developing and commercializing cancer therapeutics.

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