Alvotech (NASDAQ:ALVO) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Alvotech (NASDAQ:ALVO) from a hold rating to a sell rating in a research report report published on Sunday morning.

Other equities research analysts have also issued reports about the company. UBS Group dropped their price target on Alvotech from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Zacks Research upgraded Alvotech from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Barclays dropped their target price on Alvotech from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alvotech in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.60.

Alvotech Stock Performance

NASDAQ:ALVO opened at $3.65 on Friday. The company has a market cap of $1.10 billion, a P/E ratio of 36.50 and a beta of 0.25. Alvotech has a twelve month low of $3.03 and a twelve month high of $11.85. The company’s 50-day moving average price is $4.20 and its 200-day moving average price is $5.51.

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

Institutional Trading of Alvotech

Institutional investors have recently made changes to their positions in the company. State of Wyoming acquired a new position in Alvotech in the third quarter valued at approximately $54,000. Magnetar Financial LLC acquired a new stake in Alvotech during the third quarter worth $86,000. ProShare Advisors LLC acquired a new stake in Alvotech during the third quarter worth $91,000. Ulland Investment Advisors LLC purchased a new stake in Alvotech in the third quarter valued at $92,000. Finally, Orion Porfolio Solutions LLC purchased a new stake in Alvotech in the third quarter valued at $92,000.

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).