Avid Bioservices Inc (CDMO)

[bigbro1]

Avid Bioservices initiated with an Overweight at Stephens Stephens analyst Jacob Johnson initiated coverage of Avid Bioservices with an Overweight rating and $8 price target. The company is a pure-play biologics CDMO at the crossroads of the "two strong industry tailwinds" of the rise in biologic drug development and the growing trend of pharmaceutical outsourcing, Johnson tells investors. Avid is well positioned to capitalize on the supply-demand imbalance for biologic drug manufacturing capacity and has the potential to triple revenues, driving margin expansion in the process, Johnson contends.

Read more at:
https://thefly.com/landingPageNews.php?id=2976422