Alvotech (NASDAQ:ALVO) Receives Consensus Rating of “Hold” from Brokerages

Alvotech (NASDAQ:ALVO) has been given an average recommendation of “Hold” by the six analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $7.60.

ALVO has been the topic of a number of recent analyst reports. Barclays dropped their price target on Alvotech from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Tuesday, March 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Alvotech in a research note on Wednesday, January 21st. Morgan Stanley set a $10.00 target price on Alvotech in a research note on Wednesday, December 3rd. UBS Group cut their price target on shares of Alvotech from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, March 24th. Finally, Wall Street Zen upgraded shares of Alvotech from a “sell” rating to a “hold” rating in a research report on Saturday.

Alvotech Stock Performance

Shares of ALVO stock opened at $3.43 on Friday. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 34.30 and a beta of 0.16. Alvotech has a 52-week low of $3.03 and a 52-week high of $11.85. The company has a 50-day simple moving average of $4.29 and a two-hundred day simple moving average of $5.60.

Alvotech (NASDAQ:ALVO) last posted its earnings results on Wednesday, March 18th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.50). Alvotech had a negative return on equity of 12.84% and a net margin of 4.74%.The firm had revenue of $173.20 million for the quarter, compared to the consensus estimate of $162.20 million. On average, sell-side analysts forecast that Alvotech will post -0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. State of Wyoming bought a new stake in shares of Alvotech in the 3rd quarter worth approximately $54,000. ProShare Advisors LLC grew its holdings in Alvotech by 24.0% during the fourth quarter. ProShare Advisors LLC now owns 13,826 shares of the company’s stock valued at $71,000 after purchasing an additional 2,675 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Alvotech by 25.7% during the fourth 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 during the period. Magnetar Financial LLC purchased a new stake in Alvotech in the third quarter worth $86,000. Finally, Ulland Investment Advisors LLC purchased a new stake in Alvotech in the third quarter worth $92,000.

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).