Extremely significant positive changes in Avid Bioservices Inc (NASDAQ: CDMO) investment behavior have recently occurred: its shorter term price trend turned up, and the stock’s recent price rise disrupted its longer term downtrend.
Recent significant positive changes in fundamentals have benefitted Avid Bioservices Inc (NASDAQ: CDMO): significant quarterly earnings acceleration occurred, and the consensus estimate for April, 2024 increased significantly.
In light of these very positive signals we are reviewing our current Overall Rating of F. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to fall short of the cost of capital, CDMO is expected to be a modest Value Eraser.
Avid Bioservices has a current Value Trend Rating of F (Lowest Rating). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Avid Bioservices has a very low Appreciation Score of 12 and a very low Power Rating of 1, and the Lowest Value Trend Rating results.
Recent Price Action
Avid Bioservices Inc (NASDAQ: CDMO) stock closed at $8.20 on 5/2/24 after a very large increase of 6.9%. Moreover, this advance was accompanied by above average trading volume at 122% of normal. The stock has risen 20.1% during the last week but has been extremely weak relative to the market over the last nine months.
Be the first to comment