Avid Bioservices Inc (NASDAQ:CDMO) – First Analysis lifted their FY2019 earnings per share estimates for Avid Bioservices in a report released on Wednesday, March 13th. First Analysis analyst now expects that the biopharmaceutical company will post earnings of ($0.20) per share for the year, up from their previous estimate of ($0.21).

Separately, Zacks Investment Research lowered shares of Avid Bioservices from a “buy” rating to a “hold” rating in a report on Thursday, December 13th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $8.58.

CDMO opened at $4.15 on Friday. Avid Bioservices has a 52 week low of $2.41 and a 52 week high of $8.44. The firm has a market cap of $230.49 million, a price-to-earnings ratio of -8.30 and a beta of 2.61.

Avid Bioservices (NASDAQ:CDMO) last released its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. Avid Bioservices had a negative net margin of 3.52% and a negative return on equity of 20.74%. The firm had revenue of $13.78 million during the quarter, compared to analyst estimates of $13.43 million.

A number of institutional investors and hedge funds have recently made changes to their positions in CDMO. Two Sigma Investments LP grew its position in shares of Avid Bioservices by 5.8% during the 4th quarter. Two Sigma Investments LP now owns 56,717 shares of the biopharmaceutical company’s stock worth $233,000 after purchasing an additional 3,098 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Avid Bioservices by 44.2% during the 4th 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. SG Americas Securities LLC lifted its stake in Avid Bioservices by 3.3% in the 4th quarter. SG Americas Securities LLC now owns 181,793 shares of the biopharmaceutical company’s stock valued at $745,000 after purchasing an additional 5,825 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Avid Bioservices by 110.5% in the 4th quarter. Meeder Asset Management Inc. now owns 12,091 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 6,347 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Avid Bioservices by 18.8% during the fourth quarter. M&T Bank Corp now owns 42,059 shares of the biopharmaceutical company’s stock valued at $172,000 after acquiring an additional 6,659 shares during the last quarter. Institutional investors and hedge funds own 39.95% of the company’s stock.

Avid Bioservices Company Profile

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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Earnings History and Estimates for Avid Bioservices (NASDAQ:CDMO)

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