In the latest trading session, AVEO Pharmaceuticals (AVEO - Free Report) closed at $0.91, marking a -1.42% move from the previous day. This move lagged the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, lost 0.57%.
Heading into today, shares of the cancer drug company had lost 41.59% over the past month, lagging the Medical sector's loss of 4.67% and the S&P 500's gain of 4% in that time.
Investors will be hoping for strength from AVEO as it approaches its next earnings release. In that report, analysts expect AVEO to post earnings of -$0.05 per share. This would mark year-over-year growth of 37.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $0.74 million, down 28.16% from the year-ago period.
AVEO's full-year Zacks Consensus Estimates are calling for earnings of -$0.16 per share and revenue of $10.62 million. These results would represent year-over-year changes of +15.79% and +96.38%, respectively.
Investors should also note any recent changes to analyst estimates for AVEO. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 7.35% higher. AVEO is holding a Zacks Rank of #2 (Buy) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.