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

Alvotech (NASDAQ:ALVO) has been given an average recommendation of “Hold” by the six analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $7.60.

A number of brokerages have recently issued reports on ALVO. UBS Group reduced their target price on shares of Alvotech from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, March 24th. Weiss Ratings lowered shares of Alvotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 9th. Zacks Research raised Alvotech from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Wall Street Zen lowered Alvotech from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Barclays decreased their price objective on Alvotech from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 24th.

Hedge Funds Weigh In On Alvotech

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Alvotech by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,455 shares of the company’s stock valued at $200,000 after purchasing an additional 5,697 shares during the period. Amundi boosted its stake in shares of Alvotech by 71.0% in the 3rd quarter. Amundi now owns 19,416 shares of the company’s stock valued at $167,000 after purchasing an additional 8,059 shares during the last quarter. Bank of America Corp DE grew its position in shares of Alvotech by 218.0% during the 2nd quarter. Bank of America Corp DE now owns 16,623 shares of the company’s stock worth $152,000 after buying an additional 11,395 shares during the period. Stifel Financial Corp acquired a new stake in shares of Alvotech during the 4th quarter worth approximately $108,000. Finally, Orion Porfolio Solutions LLC bought a new stake in shares of Alvotech during the third quarter worth approximately $92,000.

Alvotech Price Performance

Alvotech stock opened at $3.61 on Friday. The stock has a 50-day simple moving average of $3.57 and a 200 day simple moving average of $4.09. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -14.44 and a beta of 0.19. Alvotech has a 12-month low of $2.94 and a 12-month high of $9.94.

Alvotech (NASDAQ:ALVO) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($0.09) EPS for the quarter. The company had revenue of $105.90 million for the quarter. Alvotech had a negative return on equity of 11.92% and a negative net margin of 14.36%. As a group, sell-side analysts anticipate that Alvotech will post 0.06 EPS for the current 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).