Jefferies Reiterates Bullish View on AVEO Pharmaceuticals (AVEO) Following TIVO-1 Data

Jefferies reiterated their Buy rating and $30 price target on AVEO Pharmaceuticals (NASDAQ: AVEO) following detailed data from its TIVO-1 Phase 3 study demonstrating superiority of tivozanib over Nexavar.

The firm comments, "Two notable updates included bigger efficacy benefits as reported by investigators and also in subgroup analyses of patients who experienced hypertension. We continue to see the current valuation as a steep discount to the value of tivo as a competitive front-line treatment option in renal cell carcinoma."

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 $12.46 yesterday.

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