Somewhat Positive News Coverage Somewhat Unlikely to Impact Avid Bioservices (CDMO) Share Price

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News articles about Avid Bioservices (NASDAQ:CDMO) have trended somewhat positive this week, according to Accern Sentiment. Accern rates the sentiment of press coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Avid Bioservices earned a news sentiment score of 0.09 on Accern’s scale. Accern also gave news headlines about the biopharmaceutical company an impact score of 46.0536990103206 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

CDMO has been the topic of several research reports. Zacks Investment Research downgraded shares of Avid Bioservices from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Avid Bioservices in a research note on Tuesday, July 17th. Janney Montgomery Scott initiated coverage on shares of Avid Bioservices in a research note on Monday, June 25th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, ValuEngine upgraded shares of Avid Bioservices from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $7.50.

Shares of CDMO stock traded up $0.18 on Tuesday, hitting $5.65. The company’s stock had a trading volume of 3,732 shares, compared to its average volume of 407,491. Avid Bioservices has a fifty-two week low of $2.24 and a fifty-two week high of $6.57. The company has a market capitalization of $307.39 million, a PE ratio of -11.32 and a beta of 2.19.

Avid Bioservices (NASDAQ:CDMO) last released its quarterly earnings results on Monday, July 16th. The biopharmaceutical company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.20. Avid Bioservices had a negative net margin of 40.68% and a negative return on equity of 58.67%. The business had revenue of $6.94 million for the quarter, compared to the consensus estimate of $6.51 million. equities research analysts anticipate that Avid Bioservices will post -0.2 earnings per share for the current fiscal year.

Avid Bioservices Company Profile

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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