Alvotech (NASDAQ:ALVO – Free Report) had its price objective trimmed by Barclays from $22.00 to $18.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.
Alvotech Stock Down 2.7 %
ALVO opened at $11.29 on Thursday. Alvotech has a twelve month low of $8.29 and a twelve month high of $18.00. The company has a 50-day simple moving average of $13.04 and a 200 day simple moving average of $13.77.
Alvotech (NASDAQ:ALVO – Get Free Report) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.81). The company had revenue of $36.89 million for the quarter. During the same quarter in the previous year, the business earned ($1.24) earnings per share. Sell-side analysts anticipate that Alvotech will post -0.66 EPS for the current year.
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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.
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