Avid Bioservices (CDMO) Tops Q1 EPS by 3c
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Avid Bioservices (CDMO) PT Raised to $11 at H.C. Wainwright
September 11, 2018 7:12 AM EDTH.C. Wainwright analyst Joseph Pantginis raised the price target on Avid Bioservices (NASDAQ: CDMO) to $11.00 (from $6.00) while maintaining a Buy rating.
Pantginis commented, "Yesterday, CDMO reported F1Q19 results, posting EPS of ($0.06), compared with our estimate of ($0.01) and consensus of ($0.13). Revenue for the first quarter was $12.58 million compared with our estimate of $12.87 million and consensus of $8.96 million. Avid ended the quarter with $37.5 million in cash. Management reaffirmed its F2019 revenue guidance of $51-55 million. Under... More
