HC Wainwright Analysts Give Avid Bioservices (NASDAQ:CDMO) a $11.00 Price Target

Avid Bioservices (NASDAQ:CDMO) has been assigned a $11.00 price objective by research analysts at HC Wainwright in a research note issued to investors on Friday, June 28th, Stock Target Advisor reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 80.03% from the stock’s previous close.

CDMO has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Janney Montgomery Scott lowered shares of Unitil from a “buy” rating to a “neutral” rating and set a $59.79 price target on the stock. in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $8.58.

NASDAQ:CDMO traded down $0.15 on Friday, hitting $6.11. 173,322 shares of the company’s stock traded hands, compared to its average volume of 959,480. Avid Bioservices has a 1 year low of $3.37 and a 1 year high of $8.44. The firm’s 50-day simple moving average is $4.85. The firm has a market capitalization of $343.00 million, a P/E ratio of -35.94 and a beta of 2.88.

Avid Bioservices (NASDAQ:CDMO) last released 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. Avid Bioservices had a negative return on equity of 9.29% and a negative net margin of 7.86%. The firm had revenue of $17.06 million for the quarter, compared to the consensus estimate of $15.53 million. As a group, analysts predict that Avid Bioservices will post -0.07 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC bought a new position in Avid Bioservices during the first quarter worth $25,000. Harborview Advisors LLC bought a new position in Avid Bioservices during the first quarter worth $52,000. D. E. Shaw & Co. Inc. increased its position in Avid Bioservices by 44.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 14,493 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 4,444 shares during the period. Meeder Asset Management Inc. increased its position in Avid Bioservices by 42.6% during the first quarter. Meeder Asset Management Inc. now owns 17,243 shares of the biopharmaceutical company’s stock worth $73,000 after acquiring an additional 5,152 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in Avid Bioservices by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,436 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 14,398 shares during the period. 38.58% of the stock is currently owned by institutional investors.

About Avid Bioservices

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.

Read More: Futures Contract

Receive News & Ratings for Avid Bioservices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avid Bioservices and related companies with MarketBeat.com's FREE daily email newsletter.