Avid Bioservices - CDMO Stock Forecast, Price & News

2 Wall Street equities 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 equities research analysts is that investors should "buy" CDMO shares.
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2 Wall Street analysts have issued 12 month price targets for Avid Bioservices' stock. Their CDMO share price forecasts range from $20.00 to $25.00. On average, they predict the company's stock price to reach $22.33 in the next twelve months. This suggests a possible upside of 27.8% from the stock's current price.
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Avid Bioservices' stock was trading at $13.77 on January 1st, 2023. Since then, CDMO shares have increased by 26.9% and is now trading at $17.47.
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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 Tuesday, December, 7th. The biopharmaceutical company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. The biopharmaceutical company had revenue of $26.11 million for the quarter, compared to the consensus estimate of $25 million. Avid Bioservices had a net margin of 82.78% and a trailing twelve-month return on equity of 1.70%. During the same quarter in the previous year, the business earned $0.01 earnings per share.

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) and Syntax Stratified SmallCap ETF (SSLY).Invesco S&P SmallCap 600 Equal Weight ETF (EWSC).

Avid Bioservices shares reverse split before market open 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 number of institutional and retail investors. Top institutional shareholders include T. Rowe Price Investment Management Inc. (5.79%), AltraVue Capital LLC (5.30%), Jennison Associates LLC (4.70%), Geneva Capital Management LLC (2.95%), AWM Investment Company Inc. (1.89%) and Morgan Stanley (1.87%). Insiders that own company stock include Daniel R Hart, 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 $17.47.

Avid Bioservices (NASDAQ:CDMO) has a market capitalization of $1.09 billion 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.