News headlines about Avid Bioservices (NASDAQ:CDMO) have trended somewhat negative recently, according to Accern Sentiment Analysis. Accern scores the sentiment of press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Avid Bioservices earned a media sentiment score of -0.13 on Accern’s scale. Accern also gave news stories about the biopharmaceutical company an impact score of 46.1681424170087 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Several analysts have recently weighed in on CDMO shares. Zacks Investment Research upgraded Avid Bioservices from a “sell” rating to a “hold” rating in a research report on Tuesday, February 27th. Noble Financial reiterated a “buy” rating on shares of Avid Bioservices in a research report on Friday, January 5th. ValuEngine downgraded Avid Bioservices from a “sell” rating to a “strong sell” rating in a research report on Monday, April 2nd. First Analysis assumed coverage on Avid Bioservices in a research note on Tuesday, March 13th. They set an “overweight” rating and a $4.00 price target on the stock. Finally, Wells Fargo assumed coverage on Avid Bioservices in a research note on Thursday, March 15th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $7.00.
Shares of Avid Bioservices stock traded down $0.05 during trading on Thursday, hitting $3.43. 179,245 shares of the stock traded hands, compared to its average volume of 419,469. The firm has a market cap of $187.77, a P/E ratio of -3.90 and a beta of 2.20. Avid Bioservices has a 52-week low of $2.24 and a 52-week high of $5.78.
Avid Bioservices (NASDAQ:CDMO) last posted its earnings results on Monday, March 12th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.09). Avid Bioservices had a negative net margin of 46.62% and a negative return on equity of 57.49%. The company had revenue of $6.82 million during the quarter, compared to analysts’ expectations of $8.95 million. research analysts forecast that Avid Bioservices will post -0.63 earnings per share for the current year.
In related news, Director Mark R. Bamforth bought 50,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $2.25 per share, for a total transaction of $112,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.53% of the stock is owned by insiders.
About Avid Bioservices
Avid Bioservices, Inc operates as a contract development and manufacturing organization focusing on the development and cGMP manufacture of biopharmaceutical products derived from mammalian cell culture. It provides a range of process development, and cGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries.
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