Alvotech (NASDAQ:ALVO) Receives $7.60 Average PT from Brokerages

Shares of Alvotech (NASDAQ:ALVO) have been assigned an average rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $7.60.

ALVO has been the subject of a number of research reports. Wall Street Zen lowered Alvotech from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. UBS Group reduced 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. Barclays decreased their price target on shares of Alvotech from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Tuesday, March 24th. Weiss Ratings downgraded shares of Alvotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 9th. Finally, Zacks Research upgraded shares of Alvotech from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th.

Institutional Trading of Alvotech

Hedge funds and other institutional investors have recently modified their holdings of the company. Magnetar Financial LLC purchased a new position in Alvotech in the third quarter valued at about $86,000. Ulland Investment Advisors LLC purchased a new stake in shares of Alvotech during the 3rd quarter worth about $92,000. Orion Porfolio Solutions LLC purchased a new stake in shares of Alvotech during the 3rd quarter worth about $92,000. ProShare Advisors LLC lifted its holdings in shares of Alvotech by 24.0% during the 4th quarter. ProShare Advisors LLC now owns 13,826 shares of the company’s stock valued at $71,000 after buying an additional 2,675 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 buying an additional 3,110 shares during the last quarter.

Alvotech Stock Up 0.9%

Shares of NASDAQ:ALVO opened at $3.49 on Friday. The company’s fifty day moving average is $3.58 and its two-hundred day moving average is $4.06. The company has a market cap of $1.05 billion, a P/E ratio of -13.96 and a beta of 0.19. Alvotech has a 12-month low of $2.94 and a 12-month high of $9.94.

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