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

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

Alvotech Price Performance

Shares of NYSE:ALVO opened at $13.58 on Friday. Alvotech has a 1-year low of $6.70 and a 1-year high of $18.00. The company’s fifty day moving average is $13.36 and its two-hundred day moving average is $12.85.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Report 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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Earnings History for Alvotech (NYSE:ALVO)

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