Alvotech (NASDAQ:ALVO) Receives Average Rating of “Hold” from Brokerages

Alvotech (NASDAQ:ALVO) has been assigned an average rating of “Hold” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $7.60.

A number of brokerages recently commented on ALVO. UBS Group dropped their price target on shares of Alvotech from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, March 24th. Zacks Research upgraded shares of Alvotech from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Weiss Ratings lowered shares of Alvotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 9th. Barclays decreased their target price on shares of Alvotech from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Tuesday, March 24th. Finally, Wall Street Zen lowered shares of Alvotech from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd.

Alvotech Price Performance

ALVO opened at $4.17 on Wednesday. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -16.68 and a beta of 0.21. Alvotech has a twelve month low of $2.94 and a twelve month high of $9.94. The company’s 50-day moving average price is $3.53 and its two-hundred day moving average price is $4.24.

Alvotech (NASDAQ:ALVO) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($0.09) EPS for the quarter. The business had revenue of $105.90 million for the quarter. Alvotech had a negative net margin of 14.36% and a negative return on equity of 11.92%. As a group, sell-side analysts anticipate that Alvotech will post 0.02 earnings per share for the current year.

Institutional Trading of Alvotech

A number of hedge funds and other institutional investors have recently bought and sold shares of ALVO. State of Wyoming bought a new stake in Alvotech during the 3rd quarter worth approximately $54,000. ProShare Advisors LLC increased its holdings in Alvotech by 24.0% during the 4th quarter. ProShare Advisors LLC now owns 13,826 shares of the company’s stock worth $71,000 after acquiring an additional 2,675 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Alvotech by 25.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,211 shares of the company’s stock worth $78,000 after acquiring an additional 3,110 shares during the period. Magnetar Financial LLC bought a new stake in Alvotech during the 3rd quarter worth approximately $86,000. Finally, Ulland Investment Advisors LLC bought a new position in shares of Alvotech in the 3rd quarter worth $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).