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

Alvotech (NASDAQ:ALVO) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Other research analysts have also issued reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Alvotech in a research note on Wednesday, January 21st. Zacks Research raised shares of Alvotech from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. UBS Group reduced their price target 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. Finally, Barclays reduced their price target on shares of Alvotech from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 24th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Alvotech has a consensus rating of “Hold” and an average price target of $7.60.

Alvotech Price Performance

ALVO opened at $3.79 on Friday. The company’s 50 day simple moving average is $4.17 and its two-hundred day simple moving average is $5.48. Alvotech has a 1-year low of $3.03 and a 1-year high of $11.85. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 37.90 and a beta of 0.25.

Alvotech (NASDAQ:ALVO) last released its earnings results on Wednesday, March 18th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.50). Alvotech had a negative return on equity of 12.84% and a net margin of 4.74%.The business had revenue of $173.20 million during the quarter, compared to analysts’ expectations of $162.20 million. On average, equities analysts anticipate that Alvotech will post -0.07 earnings per share for the current fiscal year.

Institutional Trading of Alvotech

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in Alvotech by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 230,291 shares of the company’s stock valued at $2,100,000 after purchasing an additional 1,574 shares during the last quarter. Tempus Wealth Planning LLC grew its stake in shares of Alvotech by 6.8% in the third quarter. Tempus Wealth Planning LLC now owns 33,806 shares of the company’s stock worth $277,000 after acquiring an additional 2,154 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Alvotech by 24.0% in the fourth quarter. ProShare Advisors LLC now owns 13,826 shares of the company’s stock worth $71,000 after acquiring an additional 2,675 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Alvotech by 25.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,211 shares of the company’s stock worth $78,000 after acquiring an additional 3,110 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Alvotech by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 24,455 shares of the company’s stock worth $200,000 after acquiring an additional 5,697 shares in the last quarter.

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).