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Increased Earnings Estimates Seen for AVEO Pharmaceuticals (AVEO): Can It Move Higher?

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AVEO Pharmaceuticals, Inc. AVEO is a biopharmaceutical company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AVEO’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that AVEO Pharmaceuticals could be a solid choice for investors.

Current Quarter Estimates for AVEO

In the past 60 days, two estimates have gone higher for AVEO Pharmaceuticals while none has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 41 cents a share 60 days ago, to a loss of 24 cents today, a move of 41.5%.

Current Year Estimates for AVEO

Meanwhile, AVEO Pharmaceuticals’ current year figures are also looking quite promising, with two estimates moving higher in the past two months, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $1.68 per share 60 days ago to a loss of $1.25 per share today, an increase of 25.6%.

AVEO Pharmaceuticals, Inc. Price and Consensus

AVEO Pharmaceuticals, Inc. Price and Consensus
AVEO Pharmaceuticals, Inc. Price and Consensus

AVEO Pharmaceuticals, Inc. price-consensus-chart | AVEO Pharmaceuticals, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 14.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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