The price of Avid Bioservices Inc. (NASDAQ:CDMO) shares last traded on Wall Street rose 1.57% to $16.22.
As we calculate the median target price by taking the range between a high of $25.00 and a low of $20.00, we find $22.00. Given the previous closing price of $15.97, this indicates a potential upside of 37.76 percent. CDMO stock price is now 12.49% away from the 50-day moving average and 0.93% away from the 200-day moving average. The market capitalization of the company currently stands at $1.01B.
Brokers who have rated the stock have averaged $22.33 as their price target over the next twelve months.
On March 17, 2021, RBC Capital Mkts recently initiated its ‘Outperform’ rating on the stock quoting a target price of $21, while ‘KeyBanc Capital Markets’ rates the stock as ‘Overweight’.
In other news, Alegria Esther M., Director sold 5,321 shares of the company’s stock on Jan 13. The stock was sold for $86,856 at an average price of $16.32. Upon completion of the transaction, the Director now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 12, Director Hancock Richard B sold 5,000 shares of the business’s stock. A total of $80,000 was realized by selling the stock at an average price of $16.00. This leaves the insider owning 39,134 shares of the company worth $0.63 million. Insiders disposed of 132,162 shares of company stock worth roughly $2.14 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CDMO stock. A new stake in Avid Bioservices Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $26,635,000. BESSEMER GROUP INC invested $7,422,000 in shares of CDMO during the first quarter. In the first quarter, VIRTUS INVESTMENT ADVISERS, INC. acquired a new stake in Avid Bioservices Inc. valued at approximately $1,043,000. JUMP FINANCIAL, LLC acquired a new stake in CDMO for approximately $873,000. TD ASSET MANAGEMENT INC purchased a new stake in CDMO valued at around $730,000 in the second quarter.
A candlestick chart of Avid Bioservices Inc. (NASDAQ: CDMO) showed a price of $15.82 on Thursday morning. During the past 12 months, Avid Bioservices Inc. has had a low of $11.30 and a high of $22.83. As of last week, the company has a debt-to-equity ratio of 0.79, a current ratio of 1.80, and a quick ratio of 1.30. The fifty day moving average price for CDMO is $14.47 and a two-hundred day moving average price translates $16.04 for the stock.
The latest earnings results from Avid Bioservices Inc. (NASDAQ: CDMO) was released for Jul, 2022. According to the Biotechnology Company, earnings per share came in at $0.02, missing analysts’ expectations of $0.04 by -0.02. This compares to $0.06 EPS in the same period last year. The net profit margin was 88.10% and return on equity was 80.00% for CDMO. The company reported revenue of $34.76 million for the quarter, compared to $26.11 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 33.12 percent. For the current quarter, analysts expect CDMO to generate $32.05M in revenue.
Avid Bioservices Inc.(CDMO) Company Profile
Avid Bioservices, Inc., a contract development and manufacturing organization, provides process development and current good manufacturing practices (CGMP) clinical and commercial manufacturing services focused on biopharmaceutical drug substances derived from mammalian cell culture. The company produces monoclonal antibodies and recombinant proteins; and offers services, including CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing, and regulatory submission and support. It also provides various process development services, such as upstream and downstream development and optimization, analytical methods development, testing, and characterization. The company serves biotechnology and biopharmaceutical industries. The company was formerly known as Peregrine Pharmaceuticals, Inc. and changed its name to Avid Bioservices, Inc. in January 2018. Avid Bioservices, Inc. was incorporated in 1981 and is headquartered in Tustin, California.