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

Alvotech (NASDAQ:ALVO) has earned a consensus rating of “Hold” from the six research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $7.60.

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

Hedge Funds Weigh In On Alvotech

Hedge funds have recently bought and sold shares of the company. Magnetar Financial LLC purchased a new position in shares of Alvotech in the 3rd quarter worth approximately $86,000. Ulland Investment Advisors LLC purchased a new stake in shares of Alvotech during the 3rd quarter valued at approximately $92,000. Orion Porfolio Solutions LLC bought a new position in shares of Alvotech in the third quarter worth $92,000. ProShare Advisors LLC boosted its stake in Alvotech by 24.0% in the 4th quarter. ProShare Advisors LLC now owns 13,826 shares of the company’s stock worth $71,000 after purchasing an additional 2,675 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Alvotech by 25.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,211 shares of the company’s stock valued at $78,000 after acquiring an additional 3,110 shares in the last quarter.

Alvotech Stock Down 2.4%

ALVO stock opened at $3.32 on Friday. The business has a 50-day simple moving average of $3.58 and a 200 day simple moving average of $4.04. The company has a market cap of $1.00 billion, a PE ratio of -13.28 and a beta of 0.19. Alvotech has a 52 week low of $2.94 and a 52 week high of $9.94.

Alvotech (NASDAQ:ALVO) last posted its quarterly earnings results 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 for the quarter. On average, analysts anticipate that Alvotech will post 0.06 EPS for the current fiscal 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).