Alvotech (NASDAQ:ALVO - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.74) by $0.50, Zacks reports. The firm had revenue of $153.34 million during the quarter, compared to the consensus estimate of $97.99 million.
Alvotech Price Performance
Shares of ALVO stock traded down $0.81 during trading hours on Friday, reaching $9.55. The company had a trading volume of 130,175 shares, compared to its average volume of 137,854. Alvotech has a 1-year low of $9.15 and a 1-year high of $14.76. The company has a 50 day moving average of $11.97 and a 200 day moving average of $12.17. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of -5.16 and a beta of -0.16.
Analysts Set New Price Targets
Separately, UBS Group initiated coverage on Alvotech in a research report on Friday, February 14th. They issued a "buy" rating and a $18.00 price objective for the company.
Read Our Latest Report on ALVO
About Alvotech
(
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Alvotech, through its subsidiaries, develops and manufactures biosimilar medicines for patients worldwide. It offers biosimilar products in the therapeutic areas of autoimmune, eye, and bone disorders, as well as cancer. The company's lead program is AVT02, a high concentration formulation biosimilar to Humira to treat various inflammatory conditions, including rheumatoid arthritis, psoriatic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and other indications; AVT04, a biosimilar to Stelara to treat various inflammatory conditions comprising psoriatic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and other indications; AVT06, a biosimilar to Eylea to treat various conditions, such as age-related macular degeneration, macular edema, and diabetic retinopathy; and AVT03, a biosimilar to Xgeva and Prolia, which is in the pre-clinical phase to treat prevent bone fracture, spinal cord compression, and the need for radiation or bone surgery in patients with certain types of cancer, as well as prevent bone loss and increase bone mass.
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