Avid Bioservices, Inc. (CDMO)

NASDAQ: CDMO · IEX Real-Time Price · USD
7.21
-0.33 (-4.38%)
Jun 24, 2024, 4:00 PM EDT - Market closed
-4.38%
Market Cap 457.69M
Revenue (ttm) 136.74M
Net Income (ttm) -17.98M
Shares Out 63.48M
EPS (ttm) -0.28
PE Ratio n/a
Forward PE 88.50
Dividend n/a
Ex-Dividend Date n/a
Volume 676,991
Open 7.56
Previous Close 7.54
Day's Range 7.15 - 7.84
52-Week Range 4.07 - 14.33
Beta 1.51
Analysts Buy
Price Target 12.50 (+73.37%)
Earnings Date Jul 2, 2024

About CDMO

Avid Bioservices, Inc., a contract development and manufacturing organization, provides process development and current good manufacturing practices (CGMP) clinical and commercial manufacturing services of biologics for the biotechnology and biopharmaceutical industries. The company offers various services, including clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing, and regulatory submission and support. It also provides various process development services, such as upstream and downstream deve... [Read more]

Industry Biotechnology
Sector Healthcare
Founded 1981
Employees 365
Stock Exchange NASDAQ
Ticker Symbol CDMO
Full Company Profile

Financial Performance

In 2023, CDMO's revenue was $149.27 million, an increase of 24.81% compared to the previous year's $119.60 million. Earnings were $259,000, a decrease of -99.80%.

Financial Statements

Analyst Forecast

According to 5 analysts, the average rating for CDMO stock is "Buy." The 12-month stock price forecast is $12.5, which is an increase of 73.37% from the latest price.

Price Target
$12.5
(73.37% upside)
Analyst Consensus: Buy
Stock Forecasts

News

Avid Bioservices Earns Committed Badge from EcoVadis for Sustainability Performance

TUSTIN, Calif., May 23, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient live...

4 weeks ago - GlobeNewsWire

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Avid Bioservices, Inc. - CDMO

NEW YORK , May 16, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Avid Bioservices, Inc. ("Avid" or the "Company") (NASDAQ: CDMO).  Such investors are advised to ...

5 weeks ago - PRNewsWire

Avid Bioservices to Participate at Upcoming Investor Conferences

TUSTIN, Calif., May 07, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient live...

6 weeks ago - GlobeNewsWire

Avid Bioservices Reports Financial Results for Third Quarter Ended January 31, 2024

-- Recorded Third Quarter Revenue of $33.8 Million -- -- Signed $41 Million in Net New Business Resulting in Record High Backlog of $206 Million --

2 months ago - GlobeNewsWire

Avid Bioservices Announces Receipt of Deficiency Notice from Nasdaq Regarding Late Form 10-Q

TUSTIN, Calif., March 20, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (Nasdaq:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO), announced today it received a...

3 months ago - GlobeNewsWire

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Avid Bioservices, Inc. (CDMO) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Avid Bioservices,...

3 months ago - Business Wire

Avid Bioservices, Inc. (CDMO) Investigation: Bronstein, Gewirtz & Grossman, LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings

NEW YORK--(BUSINESS WIRE)---- $CDMO #classaction--Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Avid Bioservices, Inc. (“Avid Bi...

3 months ago - Business Wire

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Avid Bioservices, Inc. (CDMO) on Behalf of Investors

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Avid Bioservices, Inc. (“Avid” or the “Company”) (NASDAQ: CDMO) investors concerning the Company'...

3 months ago - Business Wire

The Law Offices of Frank R. Cruz Announces Investigation of Avid Bioservices, Inc. (CDMO) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Avid Bioservices, Inc. (“Avid” or the “Company”) (NASDAQ: CDMO) on behalf of investors concerning the Compa...

3 months ago - Business Wire

CDMO LOSS ALERT: ROSEN, A LEADING LAW FIRM, Encourages Avid Bioservices, Inc. Investors to Inquire About Securities Class Action Investigation – CDMO

NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Avid Bioservices, Inc. (NASDAQ...

3 months ago - Business Wire

Avid Bioservices Announces Pricing of Private Placement of Convertible Notes

TUSTIN, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO), announced today the pricing o...

3 months ago - GlobeNewsWire

Avid Bioservices Announces Proposed Private Placement of Convertible Notes

TUSTIN, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO), announced today that it inten...

3 months ago - GlobeNewsWire

Avid Bioservices Announces Certain Preliminary Financial Results for Third Quarter Ended January 31, 2024

TUSTIN, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient liv...

3 months ago - GlobeNewsWire

Avid Bioservices Reports Financial Results for Second Quarter Ended October 31, 2023

-- Recorded Second Quarter Revenue of $25.4 Million -- -- Signed $35 Million in Net New Business Orders Resulting in a Backlog of $199 Million --

7 months ago - GlobeNewsWire

Avid Bioservices to Report Financial Results for Second Quarter of Fiscal Year 2024 After Market Close on December 7, 2023

TUSTIN, Calif., Nov. 30, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient live...

7 months ago - GlobeNewsWire

Avid Bioservices Partners With California Institute for Regenerative Medicine (CIRM) to Provide CDMO Services for Cell and Gene Therapy (CGT) Programs

CIRM-Funded Programs to Receive Access to Avid's Suite of World-Class CGT CDMO Services to Support Clinical Development Activities CIRM-Funded Programs to Receive Access to Avid's Suite of World-Class...

8 months ago - GlobeNewsWire

Avid Bioservices Completes Construction of New, World-Class Cell and Gene Therapy Development and Manufacturing Facility

Newly Launched CGMP Manufacturing Suites Undergoing Final Environmental Monitoring and Performance Qualification with Grand Opening Planned for January 2024 Completion of CGT Facility Brings Company's...

8 months ago - GlobeNewsWire

Avid Bioservices to Participate in RBC Capital Markets Virtual CDMO Conference

TUSTIN, Calif., Sept. 26, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient liv...

9 months ago - GlobeNewsWire

Avid Bioservices Reports Financial Results for First Quarter Ended July 31, 2023

-- Recorded First Quarter Revenue of $37.7 Million -- -- Signed $36 Million in Net New Business Orders Resulting in a Backlog of $189 Million --

10 months ago - GlobeNewsWire

Avid Bioservices to Report Financial Results for First Quarter of Fiscal Year 2024 After Market Close on September 7, 2023

TUSTIN, Calif., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient live...

10 months ago - GlobeNewsWire

Avid Bioservices Reports Financial Results for Fourth Quarter and Fiscal Year Ended April 30, 2023

-- Fourth Quarter and Full Year Revenue of $39.8 Million and $149.3 Million, Respectively, Both Represent a Record-High Achievement -- -- Signed $55 Million in Net New Business Orders Resulting in a R...

1 year ago - GlobeNewsWire

Avid Bioservices to Report Financial Results for Quarter and Fiscal Year Ended April 30, 2023 After Market Close on June 21, 2023

TUSTIN, Calif., June 14, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient live...

1 year ago - GlobeNewsWire

Avid Bioservices to Participate in RBC Capital Markets Global Healthcare Conference

TUSTIN, Calif., May 10, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives...

1 year ago - GlobeNewsWire

Avid Bioservices Unveils Completed Mammalian Cell Facilities Expansion Providing Significantly Increased Capacity for Existing and Future Customers

Company to Host Open House to Celebrate Official Launch of Newest CGMP Mammalian Cell Manufacturing Suites within Myford Facility

1 year ago - GlobeNewsWire

Avid Bioservices Reports Financial Results for Third Quarter Ended January 31, 2023, and Recent Developments

-- Recorded Third Quarter Revenue of $38.0 Million, a 21% Increase Compared to Prior Year Quarter -- -- Signed $67 Million in Net New Business Orders Resulting in a Backlog of $176 million, an Increas...

1 year ago - GlobeNewsWire