Avid Bioservices (CDMO) Stock Price, News & Analysis

Company Overview

Avid Bioservices, Inc. operates as a contract development and manufacturing organization for the biotechnology and biopharmaceutical industries in the United States. It provides process development and current good manufacturing practice clinical and commercial manufacturing services of biologics, including clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing, regulatory submission and support, upstream and downstream development and optimization, analytical methods development, cell line development, testing, and characterization services. The company was formerly known as Peregrine Pharmaceuticals, Inc. and changed its name to Avid Bioservices, Inc. in January 2018. Avid Bioservices, Inc. was incorporated in 1981 and is based in Tustin, California.

Key Stats

• Today's Range: $12.02 to $12.17
• 50-Day Range: $8.95 to $12.45
• 52-Week Range: $4.07 to $12.48
• Volume: 3.58 million shs
• Average Volume: 3.43 million shs
• Market Capitalization: $774.41 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $13.63
• Consensus Rating: Hold

Avid Bioservices Stock Analysis - MarketRank™

Avid Bioservices scored higher than 70% of companies evaluated by MarketBeat, and ranked 321st out of 970 stocks in the medical sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.2 / 5
• Analyst Rating: Hold

Consensus Rating

Avid Bioservices has received a consensus rating of Hold. The company's average rating score is 2.40, and is based on 2 buy ratings, 3 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Avid Bioservices has only been the subject of 4 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Avid Bioservices are expected to grow in the coming year, from ($0.38) to ($0.21) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Avid Bioservices is -5.35, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Avid Bioservices is -5.35, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Avid Bioservices has a P/B Ratio of 4.02. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

21.18% of the outstanding shares of Avid Bioservices have been sold short.

Short Interest Ratio / Days to Cover

Avid Bioservices has a short interest ratio ("days to cover") of 9.8.

Change versus previous month

Short interest in Avid Bioservices has recently increased by 2.43%, indicating that investor sentiment is decreasing.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Avid Bioservices does not currently pay a dividend.

Dividend Growth

Avid Bioservices does not have a long track record of dividend growth.

Sustainability and ESG

• Score: 4.5 / 5
• Environmental Score: -0.96

Percentage of Shares Shorted

21.18% of the outstanding shares of Avid Bioservices have been sold short.

Short Interest Ratio / Days to Cover

Avid Bioservices has a short interest ratio ("days to cover") of 9.8.

Change versus previous month

Short interest in Avid Bioservices has recently increased by 2.43%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 2.8 / 5
• News Sentiment: 1.02

News Sentiment

Avid Bioservices has a news sentiment score of 1.02. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.56 average news sentiment score of Medical companies.

News Coverage This Week

MarketBeat has tracked 3 news articles for Avid Bioservices this week, compared to 3 articles on an average week.

MarketBeat Follows

2 people have added Avid Bioservices to their MarketBeat watchlist in the last 30 days. This is an increase of 100% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Avid Bioservices insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $194,208.00 in company stock.

Percentage Held by Insiders

Only 3.05% of the stock of Avid Bioservices is held by insiders.

Percentage Held by Institutions

97.16% of the stock of Avid Bioservices is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

CDMO Stock Analysis - Frequently Asked Questions

How have CDMO shares performed this year?

Avid Bioservices' stock was trading at $6.50 at the beginning of 2024. Since then, CDMO shares have increased by 86.8% and is now trading at $12.14.
View the best growth stocks for 2024 here.

How were Avid Bioservices' earnings last quarter?

Avid Bioservices, Inc. (NASDAQ:CDMO) released its quarterly earnings data on Monday, September, 9th. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. The biopharmaceutical company earned $40.17 million during the quarter, compared to the consensus estimate of $39.50 million. Avid Bioservices had a negative net margin of 101.26% and a negative trailing twelve-month return on equity of 16.53%.

When did Avid Bioservices' stock split?

Avid Bioservices's stock reverse split on the morning of Monday, July 10th 2017. The 1-7 reverse split was announced on Friday, July 7th 2017. The number of shares owned by shareholders was adjusted after the market closes on Friday, July 7th 2017. An investor that had 100 shares of stock prior to the reverse split would have 14 shares after the split.

Who are Avid Bioservices' major shareholders?

Top institutional investors of Avid Bioservices include Point72 Asset Management L.P. (5.98%), State Street Corp (4.71%), Portolan Capital Management LLC (3.28%) and Geode Capital Management LLC (2.30%). Insiders that own company stock include Nicholas Stewart Green, Joseph Carleone, Daniel R Hart, Richard B Hancock, Mark R Ziebell, Richard A Richieri, Matthew R Kwietniak and Gregory Sargen.
View institutional ownership trends.

How do I buy shares of Avid Bioservices?

Shares of CDMO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Avid Bioservices own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Avid Bioservices investors own include American Water Works (AWK), DiamondRock Hospitality (DRH), Voyager Therapeutics (VYGR), Waste Connections (WCN), The RMR Group (RMR), AUO (AUOTY) and Humana (HUM).

Company Calendar

• Last Earnings: 9/09/2024
• Today: 11/17/2024
• Next Earnings (Estimated): 12/05/2024
• Fiscal Year End: 4/30/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Medical
• Industry: Pharmaceutical preparations
• Sub-Industry: N/A
• Current Symbol: NASDAQ:CDMO
• CUSIP: N/A
• CIK: 704562
• Web: www.avidbio.com
• Phone: (714) 508-6100
• Fax: 714-838-5817
• Employees: 371
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $13.63
• High Stock Price Target: $16.00
• Low Stock Price Target: $12.00
• Potential Upside/Downside: +12.2%
• Consensus Rating: Hold
• Rating Score (0-4): 2.40
• Research Coverage: 5 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($2.27)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-140,750,000.00
• Net Margins: -101.26%
• Pretax Margin: N/A
• Return on Equity: -16.53%
• Return on Assets: -5.60%

Debt

• Debt-to-Equity Ratio: 2.74
• Current Ratio: 1.46
• Quick Ratio: 1.05

Sales & Book Value

• Annual Sales: $139.91 million
• Price / Sales: 5.54
• Cash Flow: $0.15 per share
• Price / Cash Flow: 78.71
• Book Value: $3.02 per share
• Price / Book: 4.02

Miscellaneous

• Outstanding Shares: 63,790,000
• Free Float: 61,849,000
• Market Cap: $774.41 million
• Optionable: Optionable
• Beta: 1.40