Last Updated: 07 Nov 2024
Executive Summary
Avid Bioservices Inc. (CDMO) is a contract manufacturing and development organization providing commercial manufacturing and clinical process development services for mammalian cell culture-derived biopharmaceutical pharmaceuticals. The company has a market capitalization of $672.4 million and is currently trading at $10.98. Analysts have a strong buy rating on the stock, with a target price of $13.5.
Company Overview
Avid Bioservices is headquartered in Tustin, California, and has been providing services to the biopharmaceutical industry for over 15 years. The company has a team of experienced scientists and engineers who are dedicated to providing high-quality services to its clients. Avid Bioservices' services include:
Commercial manufacturing of biopharmaceuticals
Clinical process development
Current good manufacturing practices (CGMP) services
Fundamental Analysis
Avid Bioservices' financial performance has been mixed in recent years. The company has reported losses in each of the past three fiscal years. However, revenue has grown steadily, and the company is expected to return to profitability in fiscal 2024.
Technical Analysis
The technical analysis of Avid Bioservices' stock price shows that the stock is currently in a bullish trend. The stock has been trading above its 50-day and 200-day moving averages, and the relative strength index (RSI) is above 50. This indicates that the stock is likely to continue to rise in the short term.
Short Term Outlook
The short-term outlook for Avid Bioservices is positive. The company is expected to report strong financial results in the next few quarters, and the stock price is likely to continue to rise. Investors should consider buying the stock at current levels.
Long Term Outlook
The long-term outlook for Avid Bioservices is also positive. The company is well-positioned to benefit from the growing demand for biopharmaceutical manufacturing services. The company's experienced team and strong financial position will allow it to continue to grow in the years to come. Investors should consider holding the stock for the long term.
Analyst Recommendations
Analysts have a strong buy rating on Avid Bioservices' stock. The average target price for the stock is $13.5, which represents a potential upside of over 20%. Investors should consider following the analysts' recommendations and buying the stock at current levels.
