Avid Bioservices (NASDAQ:CDMO – Get Rating)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a report released on Tuesday, Benzinga reports. They presently have a $20.00 target price on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 14.48% from the stock’s previous close.
CDMO has been the topic of a number of other reports. Craig Hallum lowered their target price on shares of Avid Bioservices from $30.00 to $25.00 in a report on Wednesday, December 7th. Stephens reaffirmed an “overweight” rating and set a $22.00 price objective on shares of Avid Bioservices in a research report on Tuesday. Finally, StockNews.com raised shares of Avid Bioservices to a “sell” rating in a report on Wednesday, December 7th.
Avid Bioservices Stock Performance
Shares of CDMO stock opened at $17.47 on Tuesday. The company’s fifty day simple moving average is $16.15 and its 200-day simple moving average is $15.98. The company has a quick ratio of 1.30, a current ratio of 1.77 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.09 billion, a PE ratio of 10.34 and a beta of 1.76. Avid Bioservices has a 12 month low of $11.30 and a 12 month high of $22.38.
Institutional Investors Weigh In On Avid Bioservices
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDMO. Lakewood Asset Management LLC bought a new stake in shares of Avid Bioservices during the fourth quarter valued at about $35,000. US Bancorp DE purchased a new stake in Avid Bioservices in the first quarter worth approximately $76,000. Captrust Financial Advisors boosted its stake in Avid Bioservices by 170.6% in the second quarter. Captrust Financial Advisors now owns 7,629 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 4,810 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Avid Bioservices by 155.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the biopharmaceutical company’s stock valued at $148,000 after purchasing an additional 4,741 shares during the period. Finally, LPL Financial LLC purchased a new stake in shares of Avid Bioservices during the fourth quarter valued at approximately $142,000. 98.95% of the stock is currently owned by institutional investors.
About Avid Bioservices
Avid Bioservices, Inc engages in the commercial manufacturing. The firm focuses on the biopharmaceutical products derived from mammalian cell culture for culture for biotechnology and pharmaceutical companies. It specializes in clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory submissions and support.
- Get a free copy of the StockNews.com research report on Avid Bioservices (CDMO)
- Meta Platforms: Efficiency Gains Momentum, Stock Accelerates
- Pfizer’s Latest Acquisition Strengthens the Case for PFE Stock
- SentinelOne: Reversal In-Play For Cybersecurity Stocks
- Is Sportradar Group A Growth Stock To Bet On In 2023?
- Strong Guidance says Boeing is Ready for Takeoff
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.