Alvotech (NASDAQ:ALVO) Stock Rating Upgraded by Wall Street Zen

Alvotech (NASDAQ:ALVO) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research firms have also weighed in on ALVO. Morgan Stanley set a $10.00 price objective on Alvotech in a research note on Wednesday, December 3rd. Zacks Research raised Alvotech from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. UBS Group lowered their price target on Alvotech from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday. Weiss Ratings reissued a “sell (e+)” rating on shares of Alvotech in a report on Wednesday, January 21st. Finally, Barclays reduced their target price on shares of Alvotech from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.60.

Alvotech Stock Performance

Shares of ALVO stock opened at $3.11 on Friday. Alvotech has a 52-week low of $3.03 and a 52-week high of $11.85. The stock has a market cap of $937.60 million, a price-to-earnings ratio of 31.10 and a beta of 0.16. The firm has a fifty day moving average of $4.35 and a 200-day moving average of $5.70.

Alvotech (NASDAQ:ALVO) last issued its earnings results on Wednesday, March 18th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.50). Alvotech had a net margin of 4.74% and a negative return on equity of 12.84%. The business had revenue of $173.20 million for the quarter, compared to analyst estimates of $162.20 million. On average, sell-side analysts predict that Alvotech will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALVO. Invesco Ltd. increased its position in Alvotech by 57.5% in the 4th quarter. Invesco Ltd. now owns 73,360 shares of the company’s stock valued at $376,000 after acquiring an additional 26,784 shares in the last quarter. Millennium Management LLC grew its stake in shares of Alvotech by 1,707.7% during the fourth quarter. Millennium Management LLC now owns 357,176 shares of the company’s stock valued at $1,832,000 after purchasing an additional 337,417 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of Alvotech during the fourth quarter valued at approximately $108,000. Jane Street Group LLC acquired a new stake in shares of Alvotech in the fourth quarter valued at approximately $474,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Alvotech by 88.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 259,536 shares of the company’s stock valued at $1,331,000 after purchasing an additional 122,089 shares in the last quarter.

About Alvotech

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).