The Bull Market In Innovative Industrial Properties, Inc. (IIPR) And Avid Bioservices, Inc. (CDMO) Isn’t Dead Yet

The price of Innovative Industrial Properties, Inc. (NYSE:IIPR) went up by $3.88 now trading at $98.46. Their shares witnessed a 211.48% increase from the 52-week low price of $31.61 they recorded on 2018-07-30. Even though it is still -1.43% behind the $99.87 high touched on 2019-06-10. The last few days have been good for the stock, as its price has grew by 7.01% during the week. It has also performed better over the past three months, as it added around 26.44% while it has so far climbed around 153.76% during the course of a year. The stock of IIPR recorded 116.92% uptrend from the beginning of this year till date. The 12-month potential price target for Innovative Industrial Properties, Inc. is set at $85.5. This target means that the stock has an upside potential to increase by -13.16% from the current trading price.

89 institutions entered new Innovative Industrial Properties, Inc. (NYSE:IIPR) positions, 139 added to their existing positions in these shares, 60 lowered their positions, and 11 exited their positions entirely.

Innovative Industrial Properties, Inc. (IIPR) trade volume has decreased by -37.36% as around 228,610 shares were sold when compared with its 50-day average volume of traded shares which is 364,956. At the moment, IIPR is witnessing a uptrend, as it is trading 12.22% above its 20-day SMA, 16.32% above its 50-day SMA, and 59.02% above its 200-day SMA. The company runs an ROE of roughly 4.2%, with financial analysts predicting that their earnings per share growth will be around 0% per annum for the next five year. This will be compared to the 0% decrease witnessed over the past five years.

The first technical resistance point for Innovative Industrial Properties, Inc. (NYSE:IIPR) will likely come at $99.98, marking a 1.52% premium to the current level. The second resistance point is at $101.5, about 3% premium to its current market price. On the other hand, inability to breach the immediate hurdles can drag it down to $93.56, the lower end of the range. IIPR’s 14-day MACD is 7.86 and this positive figure indicates an upward trading trend. The company’s 14-day RSI (relative strength index) score is 66.81, which shows that its stock has been neutral. The 20-day historical volatility for the stock stands at 53.29 percent, which is high when compared to that of the 50-day’s 44.45 percent.

The shares of Avid Bioservices, Inc. (NASDAQ:CDMO) has increased by 3.54%, and now trading at $4.09 on the Wall Street in the intra-day deal, with their shares traded now around 68,796. This is a decline of -119,942 shares over the average 188,738 shares that were traded daily over the last three months. The stock that is trading at $4.09 went higher by 25.85% from its 52-week low of $3.25 that it attained back on 2018-06-21. The stock recorded a 52-week high of $8.44 nearly 275 days ago on 2018-09-11.

CDMO stock has performed well over the past 30 days, as it added 16.52% while its price plunged by -0.24% year-to-date (YTD). Looking at the last few days, it has been tough for the stock, as it tumbled -3.76% over the last week. The stock’s 12-month potential target price is now at $7.5. This means that the stock price might likely increase by 83.37% from its current trading price. 1 out of 3 Wall Street analysts which represents 33.33% rated the stock as a buy while the remaining 66.67% rated it as a hold, with 0% of analysts rating it as a sell.

Avid Bioservices, Inc. (NASDAQ:CDMO) has been utilizing an ROE that is roughly -20.3%, with stock analysts predicting that the company’s EPS for the next five years will go down by 0% per year, following the 20.9% raise that was witnessed during the past five years. The stock at the moment is on a uptrend, trading 8.4% above its 20-day SMA, -1.27% below its 50-day SMA, and -14.92% below its 200-day SMA. In percentage terms, the aggregate Avid Bioservices, Inc. shares held by institutional investors is 48.4%. 10 institutions jumped in to acquire Avid Bioservices, Inc. (CDMO) fresh stake, 37 added to their current holdings in these shares, 43 lowered their positions, and 15 left no stake in the company.

The stock’s 9-day MACD is 0.03 and this positive figure indicates an upward trading trend. The company’s 9-day RSI score is 57.32, which shows that its stock has been neutral. The 20-day historical volatility for the shares stand at 54.82 percent, which is less when compared to that of the 50-day’s 61.7 percent. On the daily chart, we see that the stock could reach the first level of resistance at $4.16, sporting a 1.68% premium to the current level. The next resistance point is at $4.24, representing nearly 3.54% premium to the current market price of Avid Bioservices, Inc. (CDMO). On the other hand, failure to breach the immediate hurdles can drag it down to $3.86, the lower end of the range.