Alvotech (ALVO) Projected to Post Earnings on Wednesday

Alvotech (NASDAQ:ALVO) is anticipated to announce its earnings results after the market closes on Wednesday, March 26th. Analysts expect the company to announce earnings of ($0.74) per share and revenue of $97.99 million for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Alvotech Stock Down 0.1 %

Shares of ALVO stock opened at $11.56 on Tuesday. The firm has a market capitalization of $3.49 billion, a P/E ratio of -6.25 and a beta of -0.16. Alvotech has a twelve month low of $9.15 and a twelve month high of $14.76. The stock’s fifty day simple moving average is $12.17 and its 200 day simple moving average is $12.18.

Analysts Set New Price Targets

Separately, UBS Group started coverage on Alvotech in a report on Friday, February 14th. They set a “buy” rating and a $18.00 price target on the stock.

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.