Alvotech (NASDAQ:ALVO) Trading Up 7.2% – What’s Next?

Alvotech (NASDAQ:ALVO) shares were up 7.2% on Monday . The company traded as high as $3.91 and last traded at $3.9140. Approximately 93,421 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 530,841 shares. The stock had previously closed at $3.65.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ALVO shares. UBS Group dropped their price target on shares of Alvotech from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Wall Street Zen lowered shares of Alvotech from a “hold” rating to a “sell” rating in a research report on Sunday. Zacks Research upgraded shares of Alvotech from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Alvotech in a research report on Wednesday, January 21st. Finally, Barclays dropped their target price 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 equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.60.

Alvotech Stock Down 10.6%

The company has a market cap of $1.02 billion, a PE ratio of 33.90 and a beta of 0.25. The stock’s 50 day moving average is $4.13 and its 200-day moving average is $5.45.

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

Institutional Investors Weigh In On Alvotech

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in Alvotech by 0.7% during the second 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 in the last quarter. Tempus Wealth Planning LLC raised 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 valued at $277,000 after acquiring an additional 2,154 shares during the period. ProShare Advisors LLC raised 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 valued at $71,000 after acquiring an additional 2,675 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 valued at $78,000 after acquiring an additional 3,110 shares during the period. Finally, JPMorgan Chase & Co. raised 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 valued at $200,000 after acquiring an additional 5,697 shares during the period.

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).