Craig-Hallum Sticks to Their Buy Rating for Avid Bioservices (CDMO)

Craig-Hallum analyst Matt Hewitt maintained a Buy rating on Avid Bioservices (CDMO – Research Report) today. The company’s shares closed yesterday at $8.76.

Hewitt covers the Healthcare sector, focusing on stocks such as Avid Bioservices, Apyx Medical, and Repligen. According to TipRanks, Hewitt has an average return of -1.0% and a 45.95% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Avid Bioservices with a $10.00 average price target, which is a 14.16% upside from current levels. In a report released on April 29, RBC Capital also assigned a Buy rating to the stock with a $8.00 price target.

The company has a one-year high of $18.65 and a one-year low of $4.07. Currently, Avid Bioservices has an average volume of 1.41M.

Based on the recent corporate insider activity of 49 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.