Avid Bioservices (CDMO) Issues Earnings Results

Avid Bioservices (NASDAQ:CDMO) issued its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.09), Bloomberg Earnings reports. Avid Bioservices had a negative return on equity of 52.55% and a negative net margin of 39.23%.

Avid Bioservices (NASDAQ:CDMO) traded up $0.11 during trading on Monday, hitting $2.44. The stock had a trading volume of 680,873 shares, compared to its average volume of 353,479. The stock has a market cap of $110.32, a P/E ratio of -3.49 and a beta of 2.43. Avid Bioservices has a 52 week low of $2.24 and a 52 week high of $5.78.

The firm also recently declared a dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 19th will be paid a $0.6563 dividend. The ex-dividend date of this dividend is Friday, March 16th.

In other news, Director Mark R. Bamforth acquired 50,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average cost of $2.25 per share, for a total transaction of $112,500.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.53% of the company’s stock.

A number of analysts have issued reports on CDMO shares. Noble Financial reissued a “buy” rating on shares of Avid Bioservices in a research note on Tuesday, December 12th. Zacks Investment Research raised Avid Bioservices from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. Finally, ValuEngine lowered Avid Bioservices from a “hold” rating to a “sell” rating in a research note on Friday, December 1st.

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Avid Bioservices Company Profile

Avid Bioservices, Inc, formerly Peregrine Pharmaceuticals, Inc, is a biopharmaceutical company. The Company is engaged in providing contract manufacturing services for third party customers on a fee-for-service basis while also supporting its internal drug development efforts. The Company delivers pharmaceutical products through its contract manufacturing business and through licensing its development-stage immunotherapy products.

Earnings History for Avid Bioservices (NASDAQ:CDMO)

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