Craig-Hallum analyst George Sutton maintained a Buy rating on Avid Bioservices (CDMO – Research Report) today and set a price target of $2.00. The company’s shares closed yesterday at $5.87.
According to TipRanks, Sutton is a 4-star analyst with an average return of 6.5% and a 44.13% success rate. Sutton covers the Technology sector, focusing on stocks such as Par Technology, AudioEye, and Freightos Limited.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Avid Bioservices with a $8.50 average price target.
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CDMO market cap is currently $370.5M and has a P/E ratio of -118.35.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CDMO in relation to earlier this year.
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Avid Bioservices (CDMO) Company Description:
Avid Bioservices, Inc. engages in the commercial manufacturing which focuses on biopharmaceutical products derived from mammalian cell culture for culture for biotechnology and pharmaceutical companies. The firm specializes in clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory submissions, and support. The company was founded on June 3, 1981 and is headquartered in Tustin, CA.
Read More on CDMO:
- Avid Bioservices Partners With California Institute for Regenerative Medicine (CIRM) to Provide CDMO Services for Cell and Gene Therapy (CGT) Programs
- Avid Bioservices completes construction of gene therapy manufacturing facility
- Avid Bioservices Completes Construction of New, World-Class Cell and Gene Therapy Development and Manufacturing Facility
- Avid Bioservices management to meet with Craig-Hallum
- William Blair starts Avid Bioservices at Market Perform on execution risk
