In a report released on September 16, 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 $17.15.
Dodge covers the Technology sector, focusing on stocks such as Signify Health, OptimizeRx, and GoodRx Holdings. According to TipRanks, Dodge has an average return of -2.4% and a 45.03% success rate on recommended stocks.
Avid Bioservices has an analyst consensus of Moderate Buy, with a price target consensus of $22.00.
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CDMO market cap is currently $1.06B and has a P/E ratio of 9.72.
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.
Read More on CDMO:
- Avid Bioservices to Participate in Morgan Stanley 20th Annual Global Healthcare Conference
- Avid Bioservices Reports Financial Results for First Quarter Ended July 31, 2022 and Recent Developments
- Avid Bioservices Appoints Pramthesh (Prem) Patel, Ph.D., as Vice President, Process Development for Mammalian Cell Business
