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

Shares of Alvotech (NASDAQ:ALVO) have been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. Two 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 price objective among brokers that have updated their coverage on the stock in the last year is $7.60.

Several research firms recently commented on ALVO. Weiss Ratings raised shares of Alvotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Zacks Research upgraded Alvotech from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Wall Street Zen lowered shares of Alvotech from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. UBS Group lowered their price objective on shares of Alvotech from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, March 24th. Finally, Barclays lowered their price objective on shares of Alvotech from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Tuesday, March 24th.

Institutional Trading of Alvotech

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Alvotech by 2.7% in the third 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 during the period. Millennium Management LLC lifted its stake in Alvotech by 1,707.7% in the fourth quarter. Millennium Management LLC now owns 357,176 shares of the company’s stock worth $1,832,000 after acquiring an additional 337,417 shares during the period. Goldman Sachs Group Inc. lifted its stake in Alvotech by 88.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 259,536 shares of the company’s stock worth $1,331,000 after acquiring an additional 122,089 shares during the period. Geode Capital Management LLC lifted its stake in Alvotech by 10.7% in the fourth quarter. Geode Capital Management LLC now owns 254,921 shares of the company’s stock worth $1,308,000 after acquiring an additional 24,667 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in Alvotech in the second quarter valued at about $1,782,000.

Alvotech Price Performance

ALVO stock opened at $4.16 on Wednesday. The company has a market capitalization of $1.26 billion, a PE ratio of -16.64 and a beta of 0.21. Alvotech has a 12 month low of $2.94 and a 12 month high of $10.63. The firm’s 50-day moving average is $3.49 and its 200 day moving average is $4.26.

Alvotech (NASDAQ:ALVO) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($0.09) EPS for the quarter. The company had revenue of $105.90 million during the quarter. Alvotech had a negative return on equity of 11.92% and a negative net margin of 14.36%. Sell-side analysts forecast that Alvotech will post 0.02 EPS for the current fiscal year.

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).