Alvotech (NASDAQ:ALVO – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.50, Zacks reports.
Alvotech Stock Performance
Shares of ALVO stock traded down $0.11 during mid-day trading on Wednesday, reaching $11.55. 96,280 shares of the company’s stock traded hands, compared to its average volume of 136,381. The firm has a 50 day moving average price of $12.14 and a two-hundred day moving average price of $12.18. The firm has a market capitalization of $3.48 billion, a PE ratio of -6.24 and a beta of -0.16. Alvotech has a 12 month low of $9.15 and a 12 month high of $14.76.
Analysts Set New Price Targets
Separately, UBS Group started coverage on Alvotech in a report on Friday, February 14th. They issued a “buy” rating and a $18.00 price target for the company.
Alvotech Company Profile
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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