Avid Bioservices gains as Q3 sales beat estimates

Avid Bioservices

14/03/2023 13:12

** Shares of Avid Bioservices Inc  CDMO.O  rise 13.9% to
$15.75 before the bell
    ** The healthcare services provider reports Q3 fiscal 2023
sales of $38.01 mln, beating analysts' est of $36.3 mln -
Refinitiv
    ** Company reiterates 2023 revenue between $145 mln and $150
mln
    ** Brokerage KeyBanc raises rating on stock to "overweight"
from "sector weight"
    ** CDMO was down ~53% last year

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))