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UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Aveo Pharmaceuticals

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In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Aveo Pharmaceuticals (NASDAQ: AVEO), but lowered its price target from $11.00 to $9.00.

Jefferies noted, “Aveo announced a strategic restructuring, which will extend its current cash to year-end 2013. This is an incremental positive, although it does not eliminate the company's near-term search for additional capital. The primary focus for investors remains the regulatory prospects for tivozanib in renal cell carcinoma.”

Aveo Pharmaceuticals closed on Tuesday at $7.87.

Latest Ratings for AVEO

DateFirmActionFromTo
May 2016PiperJaffrayInitiates Coverage onOverweight
Mar 2016FBR CapitalInitiates Coverage onOutperform
Mar 2015RBC CapitalUpgradesUnderperformSector Perform

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Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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