Alvotech (NASDAQ:ALVO) Given Average Rating of “Hold” by Brokerages

Alvotech (NASDAQ:ALVO) has received a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.60.

Several equities research analysts have recently weighed in on the company. Zacks Research upgraded Alvotech from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Wall Street Zen lowered Alvotech from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. UBS Group lowered their price target on 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 cut Alvotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 9th. Finally, Barclays reduced their target price on shares of Alvotech from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 24th.

Institutional Trading of Alvotech

Several large investors have recently added to or reduced their stakes in the company. Magnetar Financial LLC acquired a new stake in shares of Alvotech during the third quarter worth approximately $86,000. Ulland Investment Advisors LLC acquired a new position in shares of Alvotech in the 3rd quarter worth approximately $92,000. Orion Porfolio Solutions LLC acquired a new position in shares of Alvotech in the 3rd quarter worth approximately $92,000. ProShare Advisors LLC grew its position in Alvotech by 24.0% during 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in 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.

Alvotech Price Performance

Shares of Alvotech stock opened at $3.61 on Friday. Alvotech has a 52-week low of $2.94 and a 52-week high of $9.94. The firm has a market capitalization of $1.09 billion, a PE ratio of -14.44 and a beta of 0.19. The company’s fifty day moving average price is $3.57 and its two-hundred day moving average price is $4.09.

Alvotech (NASDAQ:ALVO) last issued its earnings results on Tuesday, March 31st. The company reported ($0.09) earnings per share for the quarter. Alvotech had a negative net margin of 14.36% and a negative return on equity of 11.92%. The business had revenue of $105.90 million for the quarter. Analysts predict that Alvotech will post 0.06 earnings per share for the current fiscal year.

About Alvotech

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).