Alvotech (ALVO) to Release Quarterly Earnings on Wednesday

Alvotech (NASDAQ:ALVO) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, November 13th. Analysts expect Alvotech to post earnings of ($0.14) per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Alvotech (NASDAQ:ALVO) last issued its earnings results on Thursday, August 15th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.56. The firm had revenue of $198.75 million for the quarter. During the same quarter in the previous year, the business earned ($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 Price Performance

Alvotech stock opened at $12.90 on Wednesday. The firm has a 50 day simple moving average of $11.98 and a 200-day simple moving average of $12.54. Alvotech has a 1-year low of $8.39 and a 1-year high of $18.00.

Wall Street Analysts Forecast Growth

Separately, Barclays cut their target price on Alvotech from $22.00 to $18.00 and set an “overweight” rating for the company in a research note 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.