Professional
Added to YB: 2024-04-23
Pitch date: 2024-04-15
CDMO [bullish]
Avid Bioservices, Inc.
+83.95%
current return
Author Info
Laughing Water Capital is a boutique investment partnership. Our partners believe that careful analysis of a select group of businesses can lead to above average investment returns for equity investors. Our small size and patient approach give us an advantage that cannot be matched by traditional asset managers or hedge funds that are focused on the day to day gyrations of the stock market, rather than the fundamental value of businesses. Visit their website.
Company Info
Avid Bioservices, Inc. operates as a contract development and manufacturing organization for the biotechnology and biopharmaceutical industries in the United States.
Market Cap
$798.9M
Pitch Price
$6.79
Price Target
28.00 (+124%)
Dividend
N/A
EV/EBITDA
-635.76
P/E
-5.22
EV/Sales
6.45
Sector
Biotechnology
Category
growth
Laughing Water Capital Portfolio Holding: Avid Bioservices, Inc.
CDMO: Avid Biosciences set to benefit from operating leverage as capacity fills, but stock pulled back on bond legend removal blunder causing emergency dilutive refinancing. Thesis intact with $400M rev capacity and 30%+ EBITDA margin target. Price target reduced to $25-$28 from $30-$33 on higher dilution, but still significant upside from $7 current price.
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