Avid Bioservices Intrinsic Value Calculation – AVID BIOSERVICES Reports Record Earnings for Q1 of FY2024
September 10, 2023
☀️Earnings Overview
On September 7, 2023, AVID BIOSERVICES ($NASDAQ:CDMO) released their earnings results for the first quarter of FY2024, ending on July 31, 2023. Total revenue for the quarter was USD 37.7 million, a year-over-year increase of 2.8%. Net income for the quarter was reported at USD -2.1 million, compared to USD 1.6 million in the same period the previous year.
Stock Price
On Thursday, AVID BIOSERVICES reported record earnings for the first quarter of the fiscal year 2024. The company saw their stock open at $12.2 and close at $11.6, a decrease of 4.8% compared to the previous closing price of $12.2. This decrease in stock price was an anomaly as the company experienced a record-breaking quarter with some of the highest profits in their history. This impressive performance was largely attributed to their continued success in the development and manufacturing of biopharmaceuticals. AVID BIOSERVICES has been able to stay ahead of their competition by investing heavily in new technologies and expanding their production capabilities.
This has enabled them to provide their customers with some of the highest quality biopharmaceuticals on the market today. Analysts are confident that this trend will continue into the future and that AVID BIOSERVICES will be able to sustain their impressive earnings growth as they continue to develop new products and services. They have also shown their commitment to their customers by providing them with competitive pricing and superior customer service. All these factors have contributed to their strong financial performance and growth in the first quarter of fiscal year 2024. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Avid Bioservices. More…
| Total Revenues | Net Income | Net Margin |
| 150.3 | -3.1 | -2.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Avid Bioservices. More…
| Operations | Investing | Financing |
| -8.13 | -84.83 | 2.72 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Avid Bioservices. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 442.34 | 251.74 | 3.02 |
Key Ratios Snapshot
Some of the financial key ratios for Avid Bioservices are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 29.1% | – | -0.1% |
| FCF Margin | ROE | ROA |
| -61.8% | -0.0% | -0.0% |
Analysis – Avid Bioservices Intrinsic Value Calculation
At GoodWhale, we have conducted an in-depth analysis of AVID BIOSERVICES‘s wellbeing. Our proprietary Valuation Line has determined that the intrinsic value of AVID BIOSERVICES share is around $22.6. This means that the stock is currently trading at $11.6, which represents an undervaluation of 48.6%. Thus, there is an opportunity for investors to benefit from this discount and purchase the stock at a beneficial price. More…
Peers
The company has a portfolio of products in various stages of development, including two clinical-stage assets. Its competitors include BriaCell Therapeutics Corp, Greenwich LifeSciences Inc, and Prelude Therapeutics Inc.
– BriaCell Therapeutics Corp ($TSX:BCT)
BriaCell Therapeutics Corp is a clinical stage biotechnology company that focuses on developing targeted immunotherapy treatments for breast cancer. As of 2022, the company has a market capitalization of 112.66 million and a return on equity of -18.56%. The company’s products are still in development and have not yet been approved for use by the US Food and Drug Administration. Despite this, the company’s products have shown promise in early clinical trials and have the potential to become a major treatment option for breast cancer patients in the future.
– Greenwich LifeSciences Inc ($NASDAQ:GLSI)
Greenwich LifeSciences Inc is a biopharmaceutical company that focuses on the development and commercialization of immunotherapy products for the treatment of cancer. The company’s market cap as of 2022 is 119.74M and its ROE is -16.63%. The company’s products are designed to harness the power of the immune system to target and kill cancer cells.
– Prelude Therapeutics Inc ($NASDAQ:PRLD)
Prelude Therapeutics Inc is a clinical-stage biopharmaceutical company that focuses on the development of precision medicines for the treatment of cancer. The company’s market cap is 321.98M as of 2022 and its ROE is -38.09%. The company’s products are in various stages of development, including two products that are in Phase III clinical trials.
Summary
AVID BIOSERVICES reported their financial results for Q1 FY2024, ending on July 31 2023, on September 7 2023. Total revenue was USD 37.7 million, representing a 2.8% growth compared to the same period in the previous year.
However, net income was USD -2.1 million, compared to the previous year’s USD 1.6 million. As a result, the stock price moved down the same day. Given the current financial picture, investors may want to consider carefully before investing in AVID BIOSERVICES. They should pay close attention to the company’s future financial performance and track how their net income changes over time.
Additionally, they should monitor any news related to the company and its products, and compare it to its competitors, in order to evaluate the company’s position in the market.
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