Craig-Hallum downgraded Avid Bioservices (CDMO) to Hold from Buy with a price target of $12.50, down from $16, after the company said it was getting acquired by GHO Capital and Ampersand Capital. The firm says it has been its expectation since day one that this would ultimately be the outcome, but in all fairness, Craig-Hallum thought it would be a couple of years from now and at a higher price.
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Read More on CDMO:
- Avid Bioservices to be Acquired in $1.1 Billion Deal
- Avid Bioservices downgraded to Sector Perform from Outperform at RBC Capital
- Avid Bioservices trading resumes
- GHO Capital / Ampersand Capital to acquire Avid Bioservices for $12.50 per share
- Avid Bioservices trading halted, news pending
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
