Alvotech (NASDAQ:ALVO - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.56, Zacks reports. The business had revenue of $198.75 million during the quarter. During the same period last year, the company earned ($0.43) EPS.
Alvotech Price Performance
NASDAQ:ALVO traded up $1.04 during trading hours on Friday, hitting $12.97. The stock had a trading volume of 675,627 shares, compared to its average volume of 216,169. The company has a 50 day simple moving average of $12.25 and a two-hundred day simple moving average of $13.56. Alvotech has a one year low of $8.29 and a one year high of $18.00. The firm has a market capitalization of $405.31 million, a price-to-earnings ratio of -6.24 and a beta of -0.08.
Analysts Set New Price Targets
Separately, Barclays reduced their price objective on shares of Alvotech from $22.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, July 25th.
Get Our Latest Analysis on Alvotech
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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