Canaccord Genuity Reiterates a 'Buy' on AVEO Pharmaceuticals (AVEO); AXIS Subgroup Results Support TIVO Success
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Price: $15.00 --0%
Rating Summary:
4 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
4 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Canaccord Genuity reiterates a 'Buy' on AVEO Pharmaceuticals (NASDAQ: AVEO), raises PT from $23 to $28.
Canaccord analyst says, "Interpretation of subgroup data from the Phase III
AXIS trial designed to compare axitinib vs. Nexavar as second-line treatment for renal cell carcinoma (RCC) supports high likelihood of potential TIVO-1 success, in our view."
"Details in ASCO ‘11 abstract #4503 reveal that of the 253 patients who received cytokines as front-line treatment for their disease (hence, naïve to prior TKI therapy, as we interpret), the axitinib/Nexavar median progressionfree survival (PFS) rates were 12.1 vs. 6.5 mo (p<0.0001). We believe the Nexavar outcome supports the integrity of the statistical plan of TIVO-1, AVEO’s Phase III trial designed to support tivozanib approval, while the axitinib outcome sets an achievable bar for tivozanib."
For more ratings news on AVEO Pharmaceuticals click here and for the rating history of AVEO Pharmaceuticals click here.
Shares of AVEO Pharmaceuticals closed at $19.69 yesterday.
Canaccord analyst says, "Interpretation of subgroup data from the Phase III
AXIS trial designed to compare axitinib vs. Nexavar as second-line treatment for renal cell carcinoma (RCC) supports high likelihood of potential TIVO-1 success, in our view."
"Details in ASCO ‘11 abstract #4503 reveal that of the 253 patients who received cytokines as front-line treatment for their disease (hence, naïve to prior TKI therapy, as we interpret), the axitinib/Nexavar median progressionfree survival (PFS) rates were 12.1 vs. 6.5 mo (p<0.0001). We believe the Nexavar outcome supports the integrity of the statistical plan of TIVO-1, AVEO’s Phase III trial designed to support tivozanib approval, while the axitinib outcome sets an achievable bar for tivozanib."
For more ratings news on AVEO Pharmaceuticals click here and for the rating history of AVEO Pharmaceuticals click here.
Shares of AVEO Pharmaceuticals closed at $19.69 yesterday.
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