Alvotech (NASDAQ:ALVO) Receives $8.60 Consensus Target Price from Analysts

Alvotech (NASDAQ:ALVO) has been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.60.

ALVO has been the subject of a number of recent analyst reports. Zacks Research raised Alvotech from a “strong sell” rating to a “hold” rating in a research report on Friday, December 19th. Wall Street Zen cut shares of Alvotech from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Barclays assumed coverage on shares of Alvotech in a report on Monday, December 8th. They set an “underweight” rating and a $5.00 target price on the stock. UBS Group reduced their price target on Alvotech from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $8.00 price objective (down previously from $14.00) on shares of Alvotech in a research report on Tuesday, November 4th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALVO. Goldman Sachs Group Inc. increased its holdings in Alvotech by 40.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 36,444 shares of the company’s stock valued at $352,000 after buying an additional 10,573 shares during the period. Wolverine Asset Management LLC lifted its stake in shares of Alvotech by 158.8% during the second quarter. Wolverine Asset Management LLC now owns 24,028 shares of the company’s stock valued at $219,000 after acquiring an additional 14,742 shares during the period. Geode Capital Management LLC boosted its stake in shares of Alvotech by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 230,291 shares of the company’s stock valued at $2,100,000 after purchasing an additional 1,574 shares during the last quarter. Legal & General Group Plc raised its position in shares of Alvotech by 17.0% during the 2nd quarter. Legal & General Group Plc now owns 657,742 shares of the company’s stock valued at $6,028,000 after acquiring an additional 95,331 shares during the last quarter. Finally, Norges Bank bought a new stake in Alvotech in the second quarter valued at about $1,656,000.

Alvotech Stock Down 2.6%

Shares of ALVO stock traded down $0.13 during mid-day trading on Thursday, hitting $4.73. 160,127 shares of the stock were exchanged, compared to its average volume of 362,450. The firm has a fifty day moving average of $5.11 and a 200 day moving average of $6.71. The company has a market cap of $1.42 billion, a PE ratio of 20.54 and a beta of 0.12. Alvotech has a 52-week low of $4.32 and a 52-week high of $13.08.

Alvotech (NASDAQ:ALVO) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The company had revenue of $113.95 million for the quarter, compared to analyst estimates of $116.80 million. Alvotech had a negative return on equity of 26.10% and a net margin of 12.12%. Equities analysts predict that Alvotech will post -0.07 EPS for the current 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).