Alvotech (NASDAQ:ALVO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Alvotech (NASDAQ:ALVO) have received an average recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat.com reports. Two 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 brokers that have issued a report on the stock in the last year is $8.60.

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $8.00 target price (down previously from $14.00) on shares of Alvotech in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alvotech in a research note on Wednesday, October 8th. Wall Street Zen cut Alvotech from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Morgan Stanley set a $10.00 price target on Alvotech in a research note on Wednesday, December 3rd. Finally, Northland Securities set a $10.00 target price on shares of Alvotech in a research report on Tuesday, November 4th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming acquired a new stake in shares of Alvotech in the third quarter valued at approximately $54,000. Magnetar Financial LLC acquired a new stake in shares of Alvotech in the 3rd quarter worth $86,000. ProShare Advisors LLC purchased a new position in shares of Alvotech during the 3rd quarter worth $91,000. Ulland Investment Advisors LLC acquired a new position in shares of Alvotech during the 3rd quarter valued at about $92,000. Finally, Orion Porfolio Solutions LLC purchased a new stake in shares of Alvotech in the third quarter valued at about $92,000.

Alvotech Price Performance

Alvotech stock opened at $4.64 on Friday. The stock has a market capitalization of $1.40 billion, a PE ratio of 20.17 and a beta of 0.11. The business has a 50 day simple moving average of $5.14 and a 200-day simple moving average of $7.33. Alvotech has a 12 month low of $4.32 and a 12 month high of $13.70.

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 business had revenue of $113.95 million for 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%. On average, equities research analysts anticipate that Alvotech will post -0.07 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).