Alvotech (NASDAQ:ALVO) Receives Average Recommendation of “Hold” from Brokerages

Shares of Alvotech (NASDAQ:ALVO) have been given a consensus rating of “Hold” by the six ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $8.60.

Several equities research analysts have commented on the company. Morgan Stanley set a $10.00 price target on Alvotech in a research note on Wednesday, December 3rd. Northland Securities set a $10.00 target price on Alvotech in a report on Tuesday, November 4th. Barclays began coverage on shares of Alvotech in a report on Monday, December 8th. They issued an “underweight” rating and a $5.00 price target on the stock. Zacks Research upgraded shares of Alvotech from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. Finally, Deutsche Bank Aktiengesellschaft reissued 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.

Alvotech Stock Performance

Shares of ALVO opened at $5.09 on Thursday. Alvotech has a 1 year low of $4.32 and a 1 year high of $13.08. The company’s 50 day simple moving average is $5.09 and its 200 day simple moving average is $6.85. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 22.13 and a beta of 0.12.

Alvotech (NASDAQ:ALVO) last released its 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). Alvotech had a net margin of 12.12% and a negative return on equity of 26.10%. The business had revenue of $113.95 million during the quarter, compared to analyst estimates of $116.80 million. Equities analysts expect that Alvotech will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Alvotech

Large investors have recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC bought a new position in Alvotech in the 2nd quarter valued at about $1,782,000. Norges Bank acquired a new stake in Alvotech during the second quarter valued at approximately $1,656,000. Vanguard Group Inc. boosted its stake in shares of Alvotech by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,348,151 shares of the company’s stock worth $35,481,000 after acquiring an additional 114,255 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Alvotech by 17.0% in the 2nd quarter. Legal & General Group Plc now owns 657,742 shares of the company’s stock valued at $6,028,000 after purchasing an additional 95,331 shares during the period. Finally, Ulland Investment Advisors LLC lifted its stake in Alvotech by 544.4% during the fourth quarter. Ulland Investment Advisors LLC now owns 72,500 shares of the company’s stock valued at $372,000 after buying an additional 61,250 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).