Alvotech (ALVO) – What Are Researchers Saying About This Stock?

Alvotech (NASDAQ:ALVO) has received an average rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $8.50.

Several analysts recently weighed in on the company. Barclays raised Alvotech from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $4.00 to $8.00 in a research note on Wednesday, September 16th. Evercore started coverage on Alvotech in a report on Friday, August 14th. They issued an “outperform” rating for the company. UBS Group set a $8.00 target price on shares of Alvotech in a research report on Wednesday, September 16th. Weiss Ratings raised Alvotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Finally, Bank of America initiated coverage on shares of Alvotech in a research note on Monday, August 24th. They issued a “buy” rating and a $7.00 price target for the company.

Institutional Investors Weigh In On Alvotech

Institutional investors have recently bought and sold shares of the stock. Ulland Investment Advisors LLC boosted its holdings in shares of Alvotech by 5.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 115,000 shares of the company’s stock worth $667,000 after buying an additional 5,500 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Alvotech by 146.9% during the first quarter. Renaissance Technologies LLC now owns 63,200 shares of the company’s stock worth $217,000 after acquiring an additional 37,600 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Alvotech during the second quarter valued at approximately $6,376,000.

Alvotech Price Performance

Shares of NASDAQ:ALVO opened at $5.03 on Tuesday. Alvotech has a 1 year low of $2.94 and a 1 year high of $8.74. The business’s 50 day simple moving average is $5.19 and its 200 day simple moving average is $4.13.

Alvotech (NASDAQ:ALVO) last announced its quarterly earnings data on Thursday, August 20th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The business had revenue of $106.00 million for the quarter, compared to analysts’ expectations of $103.00 million. On average, equities analysts predict that Alvotech will post 0.01 EPS for the current year.

About Alvotech

Alvotech is a biotechnology company focused on developing and manufacturing biosimilar medicines. Biosimilars are biologic products designed to be highly similar to already approved reference medicines and are intended to expand access to treatments while supporting greater affordability.

The company’s pipeline includes biosimilar candidates for conditions in immunology, ophthalmology, oncology and other therapeutic areas. Its development activities cover complex biologic medicines, including treatments used for autoimmune and inflammatory diseases.