Avid Bioservices Inc reports results for the quarter ended in October - Earnings Summary

Avid Bioservices

08/12/2023 05:42

* Avid Bioservices Inc  CDMO.OQ  reported a quarterly
adjusted
loss of 15 cents​​ per share for the quarter ended in October,
lower than the same quarter last year, when the company reported
EPS of -2 cents.  The mean expectation of five analysts for the
quarter was for a loss of 6 cents per share. Wall Street
expected results to range from -9 cents to -5 cents per share.
    * Revenue fell 26.9% to $25.40 million from a year ago;
analysts
expected $33.21 million. 
    * Avid Bioservices Inc's reported EPS for the quarter was a
loss
of 15 cents​.
    * The company reported a quarterly loss of $9.51 million.
    * Avid Bioservices Inc shares had fallen by 44.0% this
quarter and
lost 61.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 4.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the
pharmaceuticals
peer group is also "buy"

Wall Street's median 12-month price target for Avid Bioservices
Inc is $16.00 
This summary was machine generated from LSEG data December 8 at
05:41 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Oct. 31 2023      -0.06          -0.15          Missed
 Jul. 31 2023      -0.03          -0.03          Met
 Apr. 30 2023      0.00           0.00           Met
 Jan. 31 2023      -0.03          0.01           Beat