Alvotech (NASDAQ:ALVO) Stock Picked Up by Analysts at Jefferies Financial Group

Analysts at Jefferies Financial Group assumed coverage on shares of Alvotech (NASDAQ:ALVO) in a research note issued on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $9.00 price target on the stock. Jefferies Financial Group‘s price target points to a potential upside of 91.90% from the stock’s previous close.

ALVO has been the topic of several other reports. Bank of America assumed coverage on shares of Alvotech in a research report on Monday, August 24th. They issued a “buy” rating and a $7.00 price objective on the stock. Zacks Research cut Alvotech from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. UBS Group set a $8.00 price target on Alvotech in a research note on Wednesday, September 16th. Wall Street Zen lowered Alvotech from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Evercore began coverage on Alvotech in a report on Friday, August 14th. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.40.

Alvotech Stock Performance

Shares of ALVO stock opened at $4.69 on Tuesday. Alvotech has a 52 week low of $2.94 and a 52 week high of $6.53. The company’s 50 day moving average price is $5.28 and its two-hundred day moving average price is $4.21. The company has a market capitalization of $1.42 billion, a P/E ratio of -7.69 and a beta of 0.24.

Alvotech (NASDAQ:ALVO) last released its quarterly earnings results on Thursday, August 20th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The firm had revenue of $106.00 million for the quarter, compared to the consensus estimate of $103.00 million. Analysts forecast that Alvotech will post -0.01 earnings per share for the current year.

Institutional Trading of Alvotech

A number of institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC bought a new position in Alvotech in the second quarter valued at $6,376,000. Renaissance Technologies LLC increased its stake in Alvotech by 146.9% in the 1st quarter. Renaissance Technologies LLC now owns 63,200 shares of the company’s stock valued at $217,000 after buying an additional 37,600 shares during the last quarter. Royce & Associates LP bought a new stake in Alvotech during the 3rd quarter worth about $3,817,000. Commonwealth Equity Services LLC bought a new stake in Alvotech during the 3rd quarter worth about $69,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Alvotech during the 3rd quarter worth about $100,000.

Alvotech Company Profile