Will earnings report, end it’s winning streak? Avid Bioservices (NASDAQ:CDMO)

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Earnings results for Avid Bioservices (NASDAQ:CDMO)

Avid Bioservices, Inc. is expected* to report earnings on 12/02/2020 after market close. The report will be for the fiscal Quarter ending Oct 2020. According to Zacks Investment Research, based on 1 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.05. The reported EPS for the same quarter last year was $-0.03.

Avid Bioservices last posted its quarterly earnings results on September 1st, 2020. The biopharmaceutical company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.12. The company earned $25.39 million during the quarter. Avid Bioservices has generated ($0.27) earnings per share over the last year. Avid Bioservices has confirmed that its next quarterly earnings report will be published on Wednesday, December 2nd, 2020.

Analyst Opinion on Avid Bioservices (NASDAQ:CDMO)

4 Wall Street analysts have issued ratings and price targets for Avid Bioservices in the last 12 months. Their average twelve-month price target is $9.63, predicting that the stock has a possible upside of 9.62%. The high price target for CDMO is $12.00 and the low price target for CDMO is $7.50. There are currently 3 buy ratings and 1 strong buy rating for the stock, resulting in a consensus rating of “Buy.”

Avid Bioservices has received a consensus rating of Buy. The company’s average rating score is 3.25, and is based on 3 buy ratings, no hold ratings, and no sell ratings. According to analysts’ consensus price target of $9.63, Avid Bioservices has a forecasted upside of 9.6% from its current price of $8.78. Avid Bioservices has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: Avid Bioservices (NASDAQ:CDMO)

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

Insiders buying/selling: Avid Bioservices (NASDAQ:CDMO)

In the past three months, Avid Bioservices insiders have not sold or bought any company stock. Only 1.72% of the stock of Avid Bioservices is held by insiders. 48.51% of the stock of Avid Bioservices is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Avid Bioservices (NASDAQ:CDMO

Earnings for Avid Bioservices are expected to grow in the coming year, from ($0.04) to $0.10 per share. The P/E ratio of Avid Bioservices is -62.71, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Avid Bioservices is -62.71, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Avid Bioservices has a P/B Ratio of 11.86. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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