Alvotech (NYSE:ALVO) Announces Earnings Results, Misses Estimates By $0.81 EPS

Alvotech (NYSE:ALVOGet Free Report) announced its earnings results on Wednesday. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.81), Yahoo Finance reports. The company had revenue of $36.89 million for the quarter. During the same quarter last year, the company earned ($1.24) EPS.

Alvotech Stock Down 3.0 %

Shares of ALVO stock opened at $13.58 on Friday. The stock has a 50-day moving average of $13.36 and a 200-day moving average of $12.85. Alvotech has a one year low of $6.70 and a one year high of $18.00.

Wall Street Analyst Weigh In

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

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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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Earnings History for Alvotech (NYSE:ALVO)

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