Avid Bioservices (CDMO) Earning Somewhat Positive Press Coverage, Study Finds

Headlines about Avid Bioservices (NASDAQ:CDMO) have been trending somewhat positive this week, Accern Sentiment Analysis reports. The research firm rates the sentiment of media coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Avid Bioservices earned a daily sentiment score of 0.13 on Accern’s scale. Accern also gave news headlines about the biopharmaceutical company an impact score of 44.4419910135773 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

Here are some of the news headlines that may have impacted Accern’s analysis:

Several research analysts recently commented on the company. HC Wainwright assumed coverage on Avid Bioservices in a research note on Thursday, May 24th. They set a “buy” rating and a $5.00 target price for the company. ValuEngine raised Avid Bioservices from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. First Analysis began coverage on Avid Bioservices in a research report on Tuesday, March 13th. They set an “overweight” rating and a $4.00 price objective for the company. Wells Fargo & Co began coverage on Avid Bioservices in a research report on Thursday, March 15th. They set an “outperform” rating for the company. Finally, Zacks Investment Research raised Avid Bioservices from a “sell” rating to a “hold” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $6.33.

Shares of Avid Bioservices traded down $0.05, hitting $3.62, on Friday, MarketBeat.com reports. The stock had a trading volume of 299,515 shares, compared to its average volume of 279,436. Avid Bioservices has a 52-week low of $2.24 and a 52-week high of $5.78. The company has a market capitalization of $201.10 million, a P/E ratio of -4.11 and a beta of 2.10.

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.

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