Alvotech (NASDAQ:ALVO) Issues Earnings Results

Alvotech (NASDAQ:ALVO) announced its quarterly earnings data on Wednesday. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.50, Zacks reports.

Alvotech Price Performance

Shares of Alvotech stock opened at $11.55 on Thursday. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -6.24 and a beta of -0.16. Alvotech has a 1 year low of $9.15 and a 1 year high of $14.76. The firm’s 50-day moving average is $12.11 and its 200 day moving average is $12.18.

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on shares of Alvotech in a research note on Friday, February 14th. They issued a “buy” rating and a $18.00 price target for the company.

About Alvotech

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.