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

Shares of Alvotech (NASDAQ:ALVO) have received a consensus recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $7.50.

A number of research analysts have issued reports on ALVO shares. Wall Street Zen cut Alvotech from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings downgraded Alvotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 9th. Evercore started coverage on shares of Alvotech in a report on Friday, August 14th. They set an “outperform” rating for the company. Finally, Bank of America assumed coverage on shares of Alvotech in a research note on Monday, August 24th. They issued a “buy” rating and a $7.00 price objective on the stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALVO. ProShare Advisors LLC raised its holdings in shares of Alvotech by 24.0% during the fourth quarter. ProShare Advisors LLC now owns 13,826 shares of the company’s stock valued at $71,000 after purchasing an additional 2,675 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Alvotech by 25.7% in 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 period. Magnetar Financial LLC bought a new stake in Alvotech in the 3rd quarter valued at about $86,000. Orion Porfolio Solutions LLC acquired a new position in Alvotech during the 3rd quarter worth approximately $92,000. Finally, Stifel Financial Corp acquired a new position in Alvotech during the 4th quarter worth approximately $108,000.

Alvotech Price Performance

Alvotech stock opened at $4.95 on Monday. The company’s 50-day moving average is $3.77 and its 200-day moving average is $3.74. The firm has a market capitalization of $1.49 billion, a PE ratio of -8.11 and a beta of 0.18. Alvotech has a fifty-two week low of $2.94 and a fifty-two week high of $9.25.

Alvotech (NASDAQ:ALVO) last announced its earnings results on Thursday, August 20th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Alvotech had a negative return on equity of 11.92% and a negative net margin of 36.31%.The company had revenue of $106.00 million for the quarter, compared to the consensus estimate of $103.00 million. As a group, analysts expect that Alvotech will post 0.01 EPS for the current 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).