UBS Group Issues Pessimistic Forecast for Alvotech (NASDAQ:ALVO) Stock Price

Alvotech (NASDAQ:ALVO) had its price objective decreased by equities researchers at UBS Group from $13.00 to $10.00 in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 91.20% from the stock’s current price.

Several other research analysts have also commented on the company. Zacks Research lowered Alvotech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $8.00 target price (down from $14.00) on shares of Alvotech in a report on Tuesday, November 4th. Morgan Stanley set a $14.00 target price on Alvotech and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Alvotech in a research report on Wednesday, October 8th. Finally, Northland Securities set a $10.00 price objective on shares of Alvotech in a research note on Tuesday, November 4th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.50.

Alvotech Price Performance

Shares of ALVO opened at $5.23 on Tuesday. The firm has a 50-day simple moving average of $7.48 and a two-hundred day simple moving average of $8.61. The stock has a market cap of $1.58 billion, a PE ratio of 22.74 and a beta of 0.10. Alvotech has a 1-year low of $4.70 and a 1-year high of $13.70.

Alvotech (NASDAQ:ALVO) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). Alvotech had a negative return on equity of 26.10% and a net margin of 12.12%.The company had revenue of $113.95 million for the quarter, compared to analysts’ expectations of $116.80 million. Alvotech has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Alvotech will post -0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alvotech

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

About Alvotech

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.