Share price movements
On January 31, Aveo Pharmaceuticals (AVEO) issued a press release announcing its decision not to file an NDA (new drug application) for its drug, Fotivda (tivozanib), based on preliminary results from the Phase 3 trial, TIVO-3. Aveo Pharmaceuticals decided to submit an NDA for the drug with more mature data.
After the news, Aveo Pharmaceuticals’ share price fell by 60.49% and closed at $1.07 on January 31. The company closed at a discount of 50.04%—compared to its 52-week low price of $1.40. Aveo Pharmaceuticals closed at a discount of 80.52%—compared to its 52-week high price of $3.59.
Based on the closing price on January 31, Aveo Pharmaceuticals reported returns of -59.57% in the last week, -56.29% in the last month, and -71.45% in the last quarter. Aveo Pharmaceuticals reported returns of -67.16% in the last half year, -76.84% in the last year, and -56.29% YTD.
Based on Aveo Pharmaceuticals’ closing price on January 31, the broader small-cap market, represented by the iShares Core S&P Small-Cap ETF (IJR), reported returns of 2.34% in the last week, 10.63% in the last month, and 0.45% in the last quarter. Aveo Pharmaceuticals also reported returns of -10.99% in the last half year, -3.13% in the last year, and 10.63% year-to-date.
Based on the closing price on January 31, Aveo Pharmaceuticals has significantly underperformed IJR.
Aveo Pharmaceuticals has a market capitalization of $83.77 million. The company is a micro-cap stock. Aveo Pharmaceuticals might be riskier compared to the broader stock market and large-cap stocks for retail investors.
Analysts’ recommendations and target price
On February 1, analysts’ 12-month consensus recommendation for Aveo Pharmaceuticals is a “buy.” The company’s 12-month consensus target price is $5, which is 614.90% higher than the closing price on January 31. Aveo Pharmaceuticals’ highest, median, and lowest target price is $9, $4, and $3, respectively
Among the four analysts covering Aveo Pharmaceuticals on February 1, one recommended a “strong buy,” while three recommended a “buy.”