Why Avid Bioservices Stock Is Moving Higher Wednesday
Portfolio Pulse from Dylan Berman
Avid Bioservices (NASDAQ:CDMO) shares surged 16.6% after reporting better-than-expected Q4 sales for fiscal year 2024. Despite a larger-than-expected loss per share, the company beat sales estimates and issued positive revenue guidance for fiscal year 2025. RBC Capital reiterated an Outperform rating with an $8 price target.
July 03, 2024 | 4:57 pm
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Avid Bioservices reported better-than-expected Q4 sales, leading to a 16.6% increase in stock price. Despite missing EPS estimates, the company issued positive revenue guidance for FY 2025. RBC Capital reiterated an Outperform rating with an $8 price target.
The stock price surged due to better-than-expected sales and positive future revenue guidance, despite missing EPS estimates. Analyst support with an Outperform rating and a price target of $8 further boosts investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100