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

Shares of Alvotech (NASDAQ:ALVO) have earned a consensus rating of “Hold” from the six analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $7.60.

A number of equities analysts have weighed in on ALVO shares. Weiss Ratings lowered Alvotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 9th. Wall Street Zen downgraded shares of Alvotech from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd.

Alvotech Stock Performance

Shares of NASDAQ ALVO opened at $3.76 on Thursday. The firm’s 50 day moving average price is $3.59 and its 200-day moving average price is $3.84. Alvotech has a 52-week low of $2.94 and a 52-week high of $9.25. The company has a market cap of $1.13 billion, a PE ratio of -15.04 and a beta of 0.18.

Alvotech (NASDAQ:ALVO) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($0.09) earnings per share for the quarter. The firm 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%. On average, analysts forecast that Alvotech will post 0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. ProShare Advisors LLC grew its holdings in Alvotech by 24.0% during the fourth quarter. ProShare Advisors LLC now owns 13,826 shares of the company’s stock valued at $71,000 after purchasing an additional 2,675 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alvotech by 25.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,211 shares of the company’s stock valued at $78,000 after purchasing an additional 3,110 shares during the period. Magnetar Financial LLC purchased a new stake in Alvotech in the 3rd quarter worth $86,000. Orion Porfolio Solutions LLC purchased a new position in shares of Alvotech in the third quarter valued at about $92,000. Finally, Stifel Financial Corp purchased a new position in shares of Alvotech in the fourth quarter valued at about $108,000.

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).