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UPDATE: RBC Capital Markets Upgrades AVEO Pharmaceuticals On Progress In Multiple Areas
Dwight Einhorn , Benzinga Staff Writer Follow
March 09, 2015 8:38am Comments
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In a report published Monday, RBC Capital Markets analyst Adnan Butt upgraded the rating on AVEO Pharmaceuticals, Inc.
AVEO 15%
from Underperform to Sector Perform, and raised the price target from $2.00 to $3.00.

In the report, RBC Capital Markets noted, "Since the setback with tivozanib in renal cancer, AVEO has made progress on four fronts: 1) Restructuring, to extend cash into 2016, 2) Showing an ability to partner, (the unique OPHT deal), 3) Outlining a biomarker strategy (tivozanib in CRC), and 4) Finding a path for tivozanib in the EU. All routes may need partnerships but partnering also seems more possible now."

AVEO Pharmaceuticals closed on Friday at $1.50.



Read more: http://www.benzinga.com/analyst-ratings/analyst-color/15/03/5308407/update-rbc-capital-markets-upgrades-aveo-pharmaceuticals#ixzz3TtaYof75