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CDMO

Avid Bioservices

$3.98

0.18 (4.74%)

16:12
06/27/19
06/27
16:12
06/27/19
16:12

Avid Bioservices reports Q4 EPS (2c), consensus (3c)

Reports Q4 revenue $17.1M, consensus $15.65M. "Fiscal 2019 was a fundamentally transformative year for Avid, as the team successfully achieved a number of critical goals. Most notably, we converted the losses and negative margins in fiscal 2018 into a sustainable position of financial strength," stated Rick Hancock, interim president and chief executive officer. "Based on our current backlog as well as forecasts from our customers, we believe the company will achieve sustainable growth going forward. Avid is stronger today than it has been at any point in the past. "Avid finished the year with a strong fourth quarter, growing revenue to $17.1 million while increasing gross margins to 21 percent," said Dan Hart, chief financial officer. "During the fourth quarter we generated $5.6 million in operating cash flow increasing our net cash and cash equivalents by $4.6 million to $32.4 million. Looking ahead, we are encouraged by the forecasted increase in demand which we expect to strengthen the company's overall financial standing and position us for profitability."

  • 27

    Jun

CDMO Avid Bioservices
$3.98

0.18 (4.74%)

07/17/18
HCWC
07/17/18
NO CHANGE
Target $6
HCWC
Buy
Avid Bioservices price target raised to $6 from $5 at H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis raised his price target for Avid Bioservices to $6 and keeps a Buy rating on the shares following the company's Q4 results. The analyst is encouraged by the continued growth in Avid's manufacturing backlog based on its efforts to grow the business.
09/11/18
HCWC
09/11/18
NO CHANGE
Target $11
HCWC
Buy
Avid Bioservices price target raised to $11 from $6 at H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis raised his price target for Avid Bioservices to $11 saying the company's business development continues to ramp. The analyst reiterates a Buy rating on the shares following the Q1 results.
05/09/19
JANY
05/09/19
DOWNGRADE
Target $5
JANY
Neutral
Avid Bioservices downgraded to Neutral from Buy at Janney Montgomery Scott
Janney Montgomery Scott analyst Paul Knight downgraded Avid Bioservices to Neutral from Buy citing the "surprise" resignation of CEO Roger Lias. The analyst halved his price target for the shares to $5 from $10.

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