Avid Bioservices (NASDAQ:CDMO) will be posting its quarterly earnings results after the market closes on Monday, December 9th. Analysts expect Avid Bioservices to post earnings of ($0.04) per share for the quarter. Avid Bioservices has set its FY 2020 guidance at EPS.
Avid Bioservices (NASDAQ:CDMO) last announced its earnings results on Thursday, September 5th. The biopharmaceutical company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.05). Avid Bioservices had a negative net margin of 9.63% and a negative return on equity of 11.89%. The company had revenue of $15.25 million during the quarter, compared to the consensus estimate of $14.37 million. The company’s revenue was up 21.1% compared to the same quarter last year. On average, analysts expect Avid Bioservices to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
CDMO traded up $0.15 on Tuesday, reaching $5.50. 2,768 shares of the company traded hands, compared to its average volume of 177,112. The company has a market cap of $301.17 million, a price-to-earnings ratio of -32.18 and a beta of 2.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.78 and a quick ratio of 1.50. The stock’s 50 day moving average price is $5.28 and its 200-day moving average price is $5.39. Avid Bioservices has a 52-week low of $3.37 and a 52-week high of $7.15.
In other news, major shareholder Joseph Carleone purchased 15,247 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $9.20 per share, with a total value of $140,272.40. Also, CEO Richard B. Hancock acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $5.09 per share, for a total transaction of $50,900.00. 1.20% of the stock is currently owned by company insiders.
A number of brokerages have commented on CDMO. Craig Hallum assumed coverage on Avid Bioservices in a research note on Wednesday, October 16th. They issued a “buy” rating and a $11.00 target price on the stock. Zacks Investment Research upgraded Avid Bioservices from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. TheStreet lowered Avid Bioservices from a “c-” rating to a “d+” rating in a research note on Thursday, September 12th. HC Wainwright set a $11.00 price objective on Avid Bioservices and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Stephens started coverage on Avid Bioservices in a report on Wednesday, October 16th. They set an “overweight” rating and a $8.00 price objective on the stock. Two analysts have rated the stock with 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 $8.95.
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.
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