Alvotech (NASDAQ:ALVO) Given Average Recommendation of “Hold” by Analysts

Shares of Alvotech (NASDAQ:ALVO) have been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $7.60.

Several research firms have issued reports on ALVO. Wall Street Zen lowered shares of Alvotech from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings cut shares of Alvotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 9th.

Alvotech Trading Up 13.9%

Shares of ALVO stock opened at $3.53 on Thursday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -14.12 and a beta of 0.19. The stock has a 50-day moving average of $3.55 and a 200-day moving average of $3.87. Alvotech has a 1-year low of $2.94 and a 1-year high of $9.73.

Alvotech (NASDAQ:ALVO) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.09) EPS for the quarter. Alvotech had a negative return on equity of 11.92% and a negative net margin of 14.36%.The company had revenue of $105.90 million during the quarter. Sell-side analysts forecast that Alvotech will post 0.05 earnings per share for the current year.

Institutional Trading of Alvotech

Large investors have recently bought and sold shares of the business. ProShare Advisors LLC raised its position in shares of Alvotech by 24.0% in the 4th quarter. ProShare Advisors LLC now owns 13,826 shares of the company’s stock worth $71,000 after acquiring an additional 2,675 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Alvotech by 25.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,211 shares of the company’s stock valued at $78,000 after purchasing an additional 3,110 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Alvotech during the third quarter worth approximately $86,000. Orion Porfolio Solutions LLC acquired a new stake in Alvotech during the third quarter worth approximately $92,000. Finally, Stifel Financial Corp bought a new stake in Alvotech in the fourth quarter worth approximately $108,000.

Alvotech Company Profile

Alvotech (NASDAQ:ALVO) is a global biopharmaceutical company specializing in the development, manufacturing and commercialization of biosimilar medicines. The company focuses on creating high‐quality, cost‐effective alternatives to established biologic therapies in areas such as immunology, oncology and other specialty care fields. By leveraging in‐house research and a vertically integrated manufacturing platform, Alvotech aims to bring approved biosimilars to market more rapidly and with greater cost efficiency than many traditional biosimilar developers.

Since its founding in 2013, Alvotech has built a diversified pipeline of monoclonal antibody biosimilars, targeting blockbuster reference products including adalimumab (originally branded Humira), bevacizumab (Avastin) and ustekinumab (Stelara).