Alvotech (NASDAQ:ALVO - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $9.15 and last traded at $9.19, with a volume of 168910 shares changing hands. The stock had previously closed at $9.64.
Analysts Set New Price Targets
Separately, UBS Group assumed coverage on shares of Alvotech in a report on Friday, February 14th. They set a "buy" rating and a $18.00 target price for the company.
Read Our Latest Research Report on ALVO
Alvotech Price Performance
The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -4.50 and a beta of -0.05. The business has a 50-day moving average of $11.48 and a 200-day moving average of $12.09.
Alvotech (NASDAQ:ALVO - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.74) by $0.50. The company had revenue of $153.34 million during the quarter, compared to the consensus estimate of $97.99 million. As a group, equities analysts anticipate that Alvotech will post -0.07 EPS for the current fiscal year.
Hedge Funds Weigh In On Alvotech
A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of Alvotech in the 4th quarter valued at about $66,000. GF Fund Management CO. LTD. acquired a new stake in Alvotech in the 4th quarter valued at about $74,000. Wolverine Asset Management LLC grew its holdings in Alvotech by 27.5% during the fourth quarter. Wolverine Asset Management LLC now owns 7,448 shares of the company's stock worth $99,000 after purchasing an additional 1,607 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Alvotech during the fourth quarter worth about $113,000. Finally, Invesco Ltd. acquired a new position in Alvotech during the fourth quarter worth approximately $148,000.
Alvotech Company Profile
(
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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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