Avid Bioservices Inc (CDMO)

[cheynew]

Since we are attending the Morgan Stanley HC Conf, maybe they will put out a rec like they did for HALO this morning:

Morgan Stanley suggests that investors who are looking for safety in a volatile market might consider investing in this biotechnology stock. Andrew Galler, analyst at Morgan Stanley, began coverage of Halozyme Therapeutics. The company was given an overweight rating and a price target of $50. Galler described the company as a “safe port” in a storm. He wrote that Halozyme was the most defensive name we covered due to its established royalty business, long term potential for growth and diversified base business through its acquisition of Antares. Galler specifically sees value and diversification in Halozyme’s revenue streams. He emphasized Enhanze’s drug delivery technology platform. This platform is being used by major biopharmaceutical companies such as Pfizer and Bristol-Myers Squibb. Morgan Stanley’s $50 price target indicates that shares could rise 26% after Thursday’s close. He wrote that “While we don’t see any significant upside drivers other than continued expansion of Enhanze portfolio, and commercial executions by partners in near-term”, he said. — CNBC’s Michael Bloom contributed to this report.”