Alvotech (ALVO) Scheduled to Post Quarterly Earnings on Wednesday

Alvotech (NASDAQ:ALVO) will announce its earnings results after the market closes on Wednesday, November 13th. Analysts expect the company to announce earnings of ($0.14) per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Alvotech (NASDAQ:ALVO) last released its quarterly earnings results on Thursday, August 15th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.56. The business had revenue of $198.75 million for the quarter. During the same quarter in the previous year, the business posted ($0.43) earnings per share. On average, analysts expect Alvotech to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Alvotech Trading Down 3.8 %

ALVO opened at $12.21 on Tuesday. Alvotech has a twelve month low of $8.90 and a twelve month high of $18.00. The stock has a market cap of $381.56 million, a PE ratio of -4.61 and a beta of -0.10. The business’s 50 day moving average is $12.04 and its 200-day moving average is $12.53.

Analysts Set New Price Targets

Separately, Barclays lowered their price objective on shares of Alvotech from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th.

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.