Alvotech (NYSE:ALVO) Releases Earnings Results, Misses Expectations By $0.81 EPS

Alvotech (NYSE:ALVOGet Free Report) released its quarterly earnings data on Wednesday. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.81), Yahoo Finance reports. The business had revenue of $36.89 million during the quarter. During the same period in the previous year, the business earned ($1.24) earnings per share.

Alvotech Stock Down 3.0 %

NYSE ALVO opened at $13.58 on Friday. The business has a 50 day moving average price of $13.36 and a 200 day moving average price of $12.85. Alvotech has a 1-year low of $6.70 and a 1-year high of $18.00.

Analyst Ratings Changes

Separately, Barclays increased their price target on shares of Alvotech from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, March 22nd.

View Our Latest Report on ALVO

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.

See Also

Earnings History for Alvotech (NYSE:ALVO)

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