Alvotech (NASDAQ:ALVO) Shares Up 6.3% – Should You Buy?

Alvotech (NASDAQ:ALVO) shares were up 6.3% during mid-day trading on Friday . The company traded as high as $5.28 and last traded at $5.39. Approximately 89,079 shares traded hands during trading, a decline of 72% from the average daily volume of 318,162 shares. The stock had previously closed at $5.07.

Analyst Upgrades and Downgrades

ALVO has been the subject of several research reports. Morgan Stanley set a $10.00 price objective on shares of Alvotech in a research note on Wednesday. Northland Securities set a $10.00 target price on shares of Alvotech in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alvotech in a report on Wednesday, October 8th. Wall Street Zen lowered Alvotech from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $8.00 target price (down previously from $14.00) on shares of Alvotech in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.50.

Alvotech Price Performance

The business’s fifty day simple moving average is $6.81 and its two-hundred day simple moving average is $8.27. The company has a market cap of $1.61 billion, a PE ratio of 23.20 and a beta of 0.13.

Alvotech (NASDAQ:ALVO) last posted its earnings results on Wednesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). Alvotech had a negative return on equity of 26.10% and a net margin of 12.12%.The firm had revenue of $113.95 million for the quarter, compared to analysts’ expectations of $116.80 million. As a group, analysts predict that Alvotech will post -0.07 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ALVO. State of Wyoming purchased a new position in shares of Alvotech during the 3rd quarter valued at approximately $54,000. Magnetar Financial LLC acquired a new position in Alvotech during the third quarter worth $86,000. Wolverine Asset Management LLC lifted its holdings in Alvotech by 24.7% during the first quarter. Wolverine Asset Management LLC now owns 9,286 shares of the company’s stock valued at $90,000 after purchasing an additional 1,838 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Alvotech in the third quarter valued at about $91,000. Finally, Ulland Investment Advisors LLC purchased a new stake in shares of Alvotech during the third quarter worth about $92,000.

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.