Alvotech (NASDAQ:ALVO) Receives $8.60 Consensus Target Price from Analysts

Alvotech (NASDAQ:ALVO) has earned a consensus rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $8.60.

A number of equities research analysts recently weighed in on ALVO shares. Barclays started coverage on shares of Alvotech in a report on Monday, December 8th. They set an “underweight” rating and a $5.00 price target for the company. Wall Street Zen lowered Alvotech from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $8.00 price target (down previously from $14.00) on shares of Alvotech in a research note on Tuesday, November 4th. UBS Group lowered their price objective on Alvotech from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Finally, Northland Securities set a $10.00 price objective on Alvotech in a report on Tuesday, November 4th.

Alvotech Stock Performance

ALVO stock opened at $4.83 on Friday. The firm has a market cap of $1.46 billion, a P/E ratio of 21.00 and a beta of 0.11. Alvotech has a 1 year low of $4.32 and a 1 year high of $13.50. The stock has a 50-day simple moving average of $5.14 and a 200-day simple moving average of $7.25.

Alvotech (NASDAQ:ALVO) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). Alvotech had a negative return on equity of 26.10% and a net margin of 12.12%.The company had revenue of $113.95 million during the quarter, compared to analysts’ expectations of $116.80 million. On average, equities research analysts predict that Alvotech will post -0.07 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. State of Wyoming acquired a new position in Alvotech during the 3rd quarter worth $54,000. Magnetar Financial LLC acquired a new position in Alvotech in the third quarter worth about $86,000. ProShare Advisors LLC bought a new stake in Alvotech in the third quarter valued at about $91,000. Ulland Investment Advisors LLC acquired a new stake in Alvotech during the third quarter valued at approximately $92,000. Finally, Orion Porfolio Solutions LLC bought a new position in Alvotech during the 3rd quarter worth approximately $92,000.

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).