Avid Bioservices (CDMO) Stock Forecast, Price & News

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Avid Bioservices in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" CDMO shares.
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2 brokerages have issued 12-month target prices for Avid Bioservices' shares. Their CDMO share price forecasts range from $20.00 to $25.00. On average, they expect the company's stock price to reach $22.33 in the next year. This suggests a possible upside of 40.3% from the stock's current price.
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Avid Bioservices' stock was trading at $13.77 at the beginning of the year. Since then, CDMO stock has increased by 15.6% and is now trading at $15.92.
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Avid Bioservices saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 6,040,000 shares, an increase of 14.8% from the April 30th total of 5,260,000 shares. Based on an average trading volume of 593,500 shares, the days-to-cover ratio is currently 10.2 days.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, July 5th 2023.
View our CDMO earnings forecast.

Avid Bioservices, Inc. (NASDAQ:CDMO) issued its quarterly earnings data on Monday, March, 13th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.11. The biopharmaceutical company had revenue of $38.02 million for the quarter, compared to the consensus estimate of $36 million. Avid Bioservices had a net margin of 82.78% and a trailing twelve-month return on equity of 1.70%.

ETFs with the largest weight of Avid Bioservices (NASDAQ:CDMO) stock in their portfolio include Invesco Dynamic Biotechnology & Genome ETF (PBE), Franklin Genomic Advancements ETF (HELX), Invesco S&P SmallCap Health Care ETF (PSCH), SPDR S&P Biotech ETF (XBI), Direxion Daily S&P Biotech Bull 3x Shares (LABU), iShares Micro-Cap ETF (IWC), Syntax Stratified SmallCap ETF (SSLY) and Xtrackers S&P SmallCap 600 ESG ETF (SMLE).

Shares of Avid Bioservices reverse split on Monday, July 10th 2017. The 1-7 reverse split was announced on Friday, July 7th 2017. The number of shares owned by shareholders was adjusted after the market closes on Friday, July 7th 2017. An investor that had 100 shares of stock prior to the reverse split would have 14 shares after the split.

Avid Bioservices updated its FY 2023 earnings guidance on Monday, March, 13th. The company provided EPS guidance of for the period. The company issued revenue guidance of $145.00 million-$150.00 million, compared to the consensus revenue estimate of $146.57 million.

5 employees have rated Avid Bioservices Chief Executive Officer Roger Lias on Glassdoor.com. Roger Lias has an approval rating of 49% among the company's employees. This puts Roger Lias in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies. 63.0% of employees surveyed would recommend working at Avid Bioservices to a friend.

Based on aggregate information from My MarketBeat watchlists, some companies that other Avid Bioservices investors own include Array Technologies (ARRY), Anavex Life Sciences (AVXL), Inovio Pharmaceuticals (INO), Advanced Micro Devices (AMD), Dynavax Technologies (DVAX), Micron Technology (MU), QUALCOMM (QCOM), NVIDIA (NVDA), Novavax (NVAX) and Pfizer (PFE).

Avid Bioservices trades on the NASDAQ under the ticker symbol "CDMO."

Avid Bioservices' stock is owned by a variety of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (15.53%), State Street Corp (5.98%), Jennison Associates LLC (4.70%), Ranger Investment Management L.P. (3.63%), FMR LLC (3.60%) and Snyder Capital Management L P (2.76%). Insiders that own company stock include Daniel R Hart, Gregory Sargen, Mark R Bamforth, Mark R Ziebell, Nicholas Stewart Green and Richard B Hancock.
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Shares of CDMO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CDMO stock can currently be purchased for approximately $15.92.

Avid Bioservices (NASDAQ:CDMO) has a market capitalization of $995.80 million and generates $119.60 million in revenue each year. The biopharmaceutical company earns $127.67 million in net income (profit) each year or $1.66 on an earnings per share basis.

The company employs 252 workers across the globe.

Avid Bioservices' mailing address is 2642 Michelle Drive Suite 200, TUSTIN CA, 92780. The official website for the company is www.avidbio.com. The biopharmaceutical company can be reached via phone at (714) 508-6100, via email at sdiaz@vidasp.com, or via fax at 714-838-5817.