Alvotech (NASDAQ:ALVO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Alvotech (NASDAQ:ALVO) have earned an average recommendation of “Hold” from the six research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $8.60.

A number of equities research analysts have commented on the stock. Zacks Research raised shares of Alvotech from a “strong sell” rating to a “hold” rating in a research report on Friday, December 19th. Morgan Stanley set a $10.00 price target on Alvotech in a research note on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alvotech in a report on Wednesday, January 21st. Northland Securities set a $10.00 price objective on Alvotech in a report on Tuesday, November 4th. Finally, UBS Group decreased their target price on Alvotech from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th.

Alvotech Price Performance

Shares of ALVO stock opened at $5.09 on Thursday. Alvotech has a 1-year low of $4.32 and a 1-year high of $13.08. The firm has a market cap of $1.53 billion, a PE ratio of 22.13 and a beta of 0.12. The company has a 50-day moving average of $5.09 and a two-hundred day moving average of $6.85.

Alvotech (NASDAQ:ALVO) last announced its earnings results on Wednesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The firm had revenue of $113.95 million during the quarter, compared to analysts’ expectations of $116.80 million. Alvotech had a net margin of 12.12% and a negative return on equity of 26.10%. Sell-side analysts anticipate that Alvotech will post -0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in Alvotech during the 2nd quarter valued at about $1,656,000. Wolverine Asset Management LLC grew its position in shares of Alvotech by 158.8% in the second quarter. Wolverine Asset Management LLC now owns 24,028 shares of the company’s stock valued at $219,000 after purchasing an additional 14,742 shares during the last quarter. Legal & General Group Plc increased its stake 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 worth $6,028,000 after purchasing an additional 95,331 shares in the last quarter. Tempus Wealth Planning LLC raised its position in shares of Alvotech by 59.4% during the 4th quarter. Tempus Wealth Planning LLC now owns 53,880 shares of the company’s stock worth $276,000 after purchasing an additional 20,074 shares during the last quarter. Finally, Ulland Investment Advisors LLC raised its position in shares of Alvotech by 544.4% during the 4th quarter. Ulland Investment Advisors LLC now owns 72,500 shares of the company’s stock worth $372,000 after purchasing an additional 61,250 shares during the last quarter.

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).