Alvotech (NASDAQ:ALVO) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Alvotech (NASDAQ:ALVO) from a hold rating to a sell rating in a report published on Sunday morning.

A number of other research analysts have also recently weighed in on the stock. Barclays dropped their price objective on shares of Alvotech from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Tuesday, March 24th. Zacks Research upgraded shares of Alvotech from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Alvotech in a report on Wednesday, January 21st. Finally, UBS Group dropped their price objective on shares of Alvotech from $10.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, March 24th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Alvotech currently has an average rating of “Hold” and an average price target of $7.60.

Alvotech Stock Performance

Alvotech stock opened at $3.39 on Friday. The company’s 50 day simple moving average is $4.13 and its 200-day simple moving average is $5.45. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 33.90 and a beta of 0.25. Alvotech has a 1 year low of $3.03 and a 1 year high of $11.85.

Alvotech (NASDAQ:ALVO) last released its quarterly earnings results on Wednesday, March 18th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.50). The company had revenue of $173.20 million during the quarter, compared to analysts’ expectations of $162.20 million. Alvotech had a net margin of 4.74% and a negative return on equity of 12.84%. Equities analysts expect that Alvotech will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Alvotech by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 230,291 shares of the company’s stock worth $2,100,000 after acquiring an additional 1,574 shares in the last quarter. Tempus Wealth Planning LLC grew its holdings in Alvotech by 6.8% during the 3rd quarter. Tempus Wealth Planning LLC now owns 33,806 shares of the company’s stock worth $277,000 after acquiring an additional 2,154 shares in the last quarter. ProShare Advisors LLC grew its holdings in Alvotech by 24.0% during the 4th quarter. ProShare Advisors LLC now owns 13,826 shares of the company’s stock worth $71,000 after acquiring an additional 2,675 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Alvotech by 25.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,211 shares of the company’s stock worth $78,000 after acquiring an additional 3,110 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Alvotech by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,455 shares of the company’s stock worth $200,000 after acquiring an additional 5,697 shares in the last quarter.

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).