Avid Bioservices (NASDAQ:CDMO) had its target price upped by HC Wainwright from $6.00 to $11.00 in a research note released on Tuesday, Marketbeat reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages also recently weighed in on CDMO. ValuEngine upgraded Avid Bioservices from a hold rating to a buy rating in a research note on Thursday, August 30th. Zacks Investment Research downgraded Avid Bioservices from a hold rating to a sell rating in a research note on Thursday, July 19th. Finally, Janney Montgomery Scott started coverage on Avid Bioservices in a research note on Monday, June 25th. They issued a buy rating and a $10.00 target price on the stock. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Avid Bioservices has a consensus rating of Buy and a consensus target price of $8.75.

NASDAQ:CDMO opened at $7.05 on Tuesday. Avid Bioservices has a 52-week low of $2.24 and a 52-week high of $8.44. The company has a market cap of $402.65 million, a P/E ratio of -14.10 and a beta of 2.34.

Avid Bioservices (NASDAQ:CDMO) last announced its earnings results on Monday, September 10th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. Avid Bioservices had a negative return on equity of 60.06% and a negative net margin of 57.67%. The company had revenue of $12.59 million for the quarter, compared to the consensus estimate of $9.95 million. analysts expect that Avid Bioservices will post -0.24 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of CDMO. Wells Fargo & Company MN acquired a new stake in shares of Avid Bioservices in the 1st quarter valued at approximately $644,000. Comerica Bank acquired a new stake in shares of Avid Bioservices in the 1st quarter valued at approximately $131,000. Northern Trust Corp acquired a new stake in shares of Avid Bioservices in the 1st quarter valued at approximately $342,000. BlackRock Inc. acquired a new stake in shares of Avid Bioservices in the 1st quarter valued at approximately $2,217,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Avid Bioservices in the 1st quarter valued at approximately $284,000. 21.72% of the stock is owned by institutional investors and hedge funds.

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.

Featured Article: Investing in Dividend Stocks

Analyst Recommendations for Avid Bioservices (NASDAQ:CDMO)

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.