In a report released on September 6, Sean Dodge from RBC Capital maintained a Buy rating on Avid Bioservices (CDMO – Research Report), with a price target of $22.00. The company’s shares closed yesterday at $16.24.
According to TipRanks, Dodge is an analyst with an average return of -2.8% and a 44.11% success rate. Dodge covers the Technology sector, focusing on stocks such as Signify Health, GoodRx Holdings, and Thorne HealthTech.
Avid Bioservices has an analyst consensus of Moderate Buy, with a price target consensus of $22.00.
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Based on Avid Bioservices’ latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $31.23 million and a net profit of $115.6 million. In comparison, last year the company earned a revenue of $27.61 million and had a net profit of $1.99 million
Based on the recent corporate insider activity of 50 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, 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.
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