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

Alvotech (NASDAQ:ALVO) has earned an average rating of “Hold” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $7.60.

ALVO has been the topic of several analyst reports. Barclays cut their target price on Alvotech from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 24th. Zacks Research upgraded Alvotech from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. UBS Group dropped their price target on Alvotech from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, March 24th. Weiss Ratings upgraded Alvotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen lowered Alvotech from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd.

Institutional Investors Weigh In On Alvotech

Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake 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 worth $1,308,000 after acquiring an additional 24,667 shares during the last quarter. Invesco Ltd. grew its stake in shares of Alvotech by 57.5% during the fourth quarter. Invesco Ltd. now owns 73,360 shares of the company’s stock worth $376,000 after acquiring an additional 26,784 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Alvotech by 40.9% during the first quarter. Goldman Sachs Group Inc. now owns 36,444 shares of the company’s stock worth $352,000 after acquiring an additional 10,573 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alvotech by 30.4% during 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 during the last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of Alvotech during the fourth quarter worth about $108,000.

Alvotech Price Performance

ALVO opened at $4.16 on Wednesday. The business’s 50-day moving average is $3.49 and its two-hundred day moving average is $4.26. Alvotech has a 1 year low of $2.94 and a 1 year high of $10.63. The firm has a market capitalization of $1.26 billion, a PE ratio of -16.64 and a beta of 0.21.

Alvotech (NASDAQ:ALVO) last posted its earnings results on Tuesday, March 31st. The company reported ($0.09) earnings per share (EPS) for the quarter. Alvotech had a negative net margin of 14.36% and a negative return on equity of 11.92%. The company had revenue of $105.90 million during the quarter. As a group, sell-side analysts expect that Alvotech will post 0.02 EPS for the current year.

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).