UPDATE: H.C. Wainwright Downgrades AVEO Pharmaceuticals (AVEO) to Neutral
Get Alerts AVEO Hot Sheet
Rating Summary:
4 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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(updated to add analyst comment)
H.C. Wainwright analyst Swayampakula Ramakanth downgraded AVEO Pharmaceuticals (NASDAQ: AVEO) from Buy to Neutral with a price target of $1.00 (from $9.00).
The analyst comments "Without a clear path to commercialization for the company’s lead product or any additional late-stage studies ongoing, we believe that the company’s shares are likely to remain range-bound in the near term. Therefore, we are adjusting our rating for AVEO to Neutral from Buy and lowering our 12-month price target to $1.00, down from $9.00. We note that the company reported cash and cash equivalents of $20.4M at the end of 3Q18, which according to management guidance, is sufficient to fund operations into 3Q19."
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 $0.70 yesterday.
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