Avid Bioservices (CDMO) Receives Daily Coverage Optimism Score of -0.04

News headlines about Avid Bioservices (NASDAQ:CDMO) have been trending somewhat negative on Sunday, according to Accern Sentiment. Accern identifies positive and negative news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Avid Bioservices earned a news impact score of -0.04 on Accern’s scale. Accern also gave media stories about the biopharmaceutical company an impact score of 47.6459799907023 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

A number of research firms recently commented on CDMO. ValuEngine downgraded Avid Bioservices from a “sell” rating to a “strong sell” rating in a report on Monday, April 2nd. Wells Fargo began coverage on Avid Bioservices in a report on Thursday, March 15th. They set an “outperform” rating for the company. First Analysis began coverage on Avid Bioservices in a report on Tuesday, March 13th. They set an “overweight” rating and a $4.00 price target for the company. Zacks Investment Research upgraded Avid Bioservices from a “sell” rating to a “hold” rating in a report on Tuesday, February 27th. Finally, Noble Financial reiterated a “buy” rating on shares of Avid Bioservices in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Avid Bioservices has a consensus rating of “Buy” and an average price target of $7.00.

How to Become a New Pot Stock Millionaire

CDMO stock traded up $0.08 during midday trading on Friday, hitting $3.38. The company’s stock had a trading volume of 241,546 shares, compared to its average volume of 536,268. Avid Bioservices has a 1 year low of $2.24 and a 1 year high of $5.78. The stock has a market cap of $183.32, a P/E ratio of -3.84 and a beta of 2.24.

Avid Bioservices (NASDAQ:CDMO) last issued its quarterly earnings data on Monday, March 12th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.09). The company had revenue of $6.82 million for the quarter, compared to analysts’ expectations of $8.95 million. Avid Bioservices had a negative return on equity of 57.49% and a negative net margin of 46.62%. equities research analysts forecast that Avid Bioservices will post -0.63 earnings per share for the current year.

The company also recently disclosed a dividend, which was paid on Monday, April 2nd. Stockholders of record on Monday, March 19th were given a dividend of $0.6563 per share. The ex-dividend date of this dividend was Friday, March 16th.

In related news, Director Mark R. Bamforth bought 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $2.25 per share, for a total transaction of $112,500.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.53% of the stock is currently owned by corporate insiders.

COPYRIGHT VIOLATION NOTICE: This article was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at https://ledgergazette.com/2018/04/15/somewhat-critical-media-coverage-somewhat-unlikely-to-impact-avid-bioservices-cdmo-share-price.html.

About Avid Bioservices

Avid Bioservices, Inc operates as a contract development and manufacturing organization focusing on the development and cGMP manufacture of biopharmaceutical products derived from mammalian cell culture. It provides a range of process development, and cGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries.

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.

Leave a Reply