Alvotech (NASDAQ:ALVO) Stock Rating Upgraded by Wall Street Zen

Alvotech (NASDAQ:ALVO) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

ALVO has been the topic of several other reports. Zacks Research raised Alvotech from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. UBS Group reduced their target price on shares of Alvotech from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alvotech in a research note on Wednesday, January 21st. Morgan Stanley set a $10.00 price objective on shares of Alvotech in a report on Wednesday, December 3rd. Finally, Barclays decreased their price objective on shares of Alvotech from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Tuesday, March 24th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Alvotech presently has an average rating of “Hold” and a consensus target price of $7.60.

Alvotech Price Performance

NASDAQ:ALVO opened at $3.11 on Friday. The business’s 50-day moving average is $4.35 and its two-hundred day moving average is $5.67. The firm has a market capitalization of $937.60 million, a PE ratio of 31.10 and a beta of 0.16. Alvotech has a 12 month low of $3.03 and a 12 month high of $11.85.

Alvotech (NASDAQ:ALVO) last issued its earnings results on Wednesday, March 18th. The company reported ($0.37) earnings per share 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 company had revenue of $173.20 million during the quarter, compared to analysts’ expectations of $162.20 million. Equities analysts anticipate that Alvotech will post -0.07 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALVO. Vanguard Group Inc. increased its holdings in shares of Alvotech by 2.7% in the third quarter. Vanguard Group Inc. now owns 4,348,151 shares of the company’s stock valued at $35,481,000 after buying an additional 114,255 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Alvotech by 17.0% during the 2nd quarter. Legal & General Group Plc now owns 657,742 shares of the company’s stock worth $6,028,000 after acquiring an additional 95,331 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Alvotech by 1,707.7% in the 4th quarter. Millennium Management LLC now owns 357,176 shares of the company’s stock worth $1,832,000 after acquiring an additional 337,417 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Alvotech by 88.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 259,536 shares of the company’s stock worth $1,331,000 after purchasing an additional 122,089 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Alvotech by 10.7% during the fourth quarter. Geode Capital Management LLC now owns 254,921 shares of the company’s stock valued at $1,308,000 after purchasing an additional 24,667 shares during the last quarter.

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).