Jefferies Cuts PT on AVEO Pharmaceuticals (AVEO); More Cautious on Tivo Approval

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Jefferies lowered its price target on AVEO Pharmaceuticals (NASDAQ: AVEO) from $9 to $6 following the Q4 update. The firm maintained a Hold rating.

The firm comments, "AVEO shared new details of the final overall survival (OS) analysis for tivozanib from its Phase 3 first-line kidney cancer study. We are incrementally more cautious following these data, particularly new subgroup analyses of the OS data, which we thought would be supportive but are instead mixed. We remain concerned about both the regulatory and commercial prospects for tivo."

For an analyst ratings summary and ratings history on AVEO Pharmaceuticals click here. For more ratings news on AVEO Pharmaceuticals click here.

Shares of AVEO Pharmaceuticals closed at $7.35 yesterday, with a 52 week range of $5.80-$14.08.

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