Avid Bioservices Shares Jump as RBC Boosts Price Target After Bookings Beat

MT Newswires Live

Sep 11, 2024

Avid Bioservices (CDMO) shares jumped 19% in recent Tuesday trading as RBC Capital Markets raised its price target to $12 from $8 after the company's bookings topped the analyst's estimate.

Bookings in fiscal Q1 at $66 million beat RBC's forecast of $36 million, the company's results showed Monday. "Improving bookings momentum" spurred the higher price target, RBS said, affirming its outperform rating on the stock.

The company reiterated revenue guidance for fiscal 2025 of $160 million to $168 million, supported by growing bookings and backlog standing at $219 million, RBC said.

Price: 10.62, Change: +1.67, Percent Change: +18.66

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2466621454"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2466621454\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2466621454?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-09-11 02:21","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2466621454","market":"hk","top_or_hot":-1,"title":"Avid Bioservices Shares Jump as RBC Boosts Price Target After Bookings Beat","media":"MT Newswires Live","content":"<html><body><p>Avid Bioservices Shares Jump as RBC Boosts Price Target After Bookings Beat</p><p> Avid Bioservices (CDMO) shares jumped 19% in recent Tuesday trading as RBC Capital Markets raised its price target to $12 from $8 after the company's bookings topped the analyst's estimate.</p><p>Bookings in fiscal Q1 at $66 million beat RBC's forecast of $36 million, the company's results showed Monday. \"Improving bookings momentum\" spurred the higher price target, RBS said, affirming its outperform rating on the stock.</p><p>The company reiterated revenue guidance for fiscal 2025 of $160 million to $168 million, supported by growing bookings and backlog standing at $219 million, RBC said.</p><p>Price: 10.62, Change: +1.67, Percent Change: +18.66</p></body></html>","source":"mtnewswires_live","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Avid Bioservices Shares Jump as RBC Boosts Price Target After Bookings Beat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAvid Bioservices Shares Jump as RBC Boosts Price Target After Bookings Beat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-11 02:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Avid Bioservices Shares Jump as RBC Boosts Price Target After Bookings Beat Avid Bioservices (CDMO) shares jumped 19% in recent Tuesday trading as RBC Capital Markets raised its price target to $12 ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CDMOP","symbol_name":"Avid Bioservices, Inc. 10.50% Series E Convertible Preferred","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2466621454","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2466621454","pubTimestamp":1725992468,"columns":[],"sourceInfo":{"source_id":"mtnewswires_live","name":"MT Newswires Live"},"weMediaInfo":null,"summary":"Avid Bioservices Shares Jump as RBC Boosts Price Target After Bookings Beat Avid Bioservices (CDMO) ","collect":0,"end_time":0,"defaultTopTitle":"mtnewswires.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CDMOP":"Avid Bioservices, Inc. 10.50% Series E Convertible Preferred","BK4139":"生物科技","BK4207":"综合性银行","RY":"加拿大皇家银行","CDMO":"Avid Bioservices, Inc."},"translate_title":"预订量超出预期后，加拿大皇家银行上调目标价，Avid Bioservices股价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CDMOP":1,"RY":1,"CDMO":1},"content_text":"Avid Bioservices Shares Jump as RBC Boosts Price Target After Bookings Beat Avid Bioservices (CDMO) shares jumped 19% in recent Tuesday trading as RBC Capital Markets raised its price target to $12 from $8 after the company's bookings topped the analyst's estimate.Bookings in fiscal Q1 at $66 million beat RBC's forecast of $36 million, the company's results showed Monday. \"Improving bookings momentum\" spurred the higher price target, RBS said, affirming its outperform rating on the stock.The company reiterated revenue guidance for fiscal 2025 of $160 million to $168 million, supported by growing bookings and backlog standing at $219 million, RBC said.Price: 10.62, Change: +1.67, Percent Change: +18.66","kind":"live","is_publish_news":false,"is_publish_highlight":false,"is_publish_live":true,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}