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

Shares of Alvotech (NASDAQ:ALVO) have been given a consensus rating of “Hold” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $7.60.

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

Institutional Investors Weigh In On Alvotech

Several institutional investors have recently made changes to their positions in ALVO. Magnetar Financial LLC purchased a new position in shares of Alvotech during the 3rd quarter worth about $86,000. Ulland Investment Advisors LLC purchased a new position in shares of Alvotech during the third quarter valued at approximately $92,000. Orion Porfolio Solutions LLC bought a new position in shares of Alvotech during the third quarter valued at approximately $92,000. ProShare Advisors LLC raised its holdings 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 buying an additional 2,675 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings 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 buying an additional 3,110 shares during the period.

Alvotech Stock Down 1.2%

Alvotech stock traded down $0.04 during midday trading on Friday, reaching $3.28. 397,729 shares of the stock traded hands, compared to its average volume of 924,027. The stock has a market cap of $989.94 million, a P/E ratio of -13.12 and a beta of 0.19. The stock’s fifty day moving average is $3.58 and its 200-day moving average is $4.03. Alvotech has a 12 month low of $2.94 and a 12 month high of $9.94.

Alvotech (NASDAQ:ALVO) last released its quarterly earnings data on Tuesday, March 31st. The company reported ($0.09) earnings per share (EPS) for the quarter. Alvotech had a negative return on equity of 11.92% and a negative net margin of 14.36%.The firm had revenue of $105.90 million during the quarter. On average, equities analysts predict that Alvotech will post 0.06 EPS 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).