Avid Bioservices (NASDAQ:CDMO) posted its quarterly earnings data on Thursday, June 27th. The biopharmaceutical company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01, Morningstar.com reports. Avid Bioservices had a negative return on equity of 9.29% and a negative net margin of 7.86%. The business had revenue of $17.06 million for the quarter, compared to analyst estimates of $15.53 million.
Shares of CDMO traded down $0.15 on Friday, hitting $6.11. The company’s stock had a trading volume of 173,322 shares, compared to its average volume of 959,480. The business has a 50 day moving average price of $4.85. Avid Bioservices has a fifty-two week low of $3.37 and a fifty-two week high of $8.44. The firm has a market capitalization of $343.02 million, a P/E ratio of -35.94 and a beta of 2.88.
CDMO has been the topic of a number of recent research reports. Janney Montgomery Scott downgraded Unitil from a “buy” rating to a “neutral” rating and set a $59.79 target price on the stock. in a research report on Friday, June 28th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. TheStreet raised South Jersey Industries from a “c+” rating to a “b-” rating in a research report on Tuesday, July 9th. Zacks Investment Research downgraded General Finance from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, HC Wainwright set a $73.00 price objective on Uniqure and gave the company a “buy” rating in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $8.58.
Avid Bioservices Company Profile
Avid Bioservices, Inc, a biologics contract development and manufacturing company, focuses on the development and current Good Manufacturing Practices (cGMP) manufacture of biopharmaceutical products derived from mammalian cell culture. It provides a range of process development, cGMP clinical, and commercial manufacturing services for the biotechnology and biopharmaceutical industries.
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