Alvotech (NASDAQ:ALVO) Stock Has Consensus Target Price of $8.25

Alvotech (NASDAQ:ALVO) has been given an average rating of “Hold” by the six brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $8.25.

ALVO has been the topic of a number of recent research reports. Weiss Ratings raised Alvotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, November 4th. Bank of America assumed coverage on shares of Alvotech in a report on Monday, August 24th. They issued a “buy” rating and a $7.00 price target on the stock. Wall Street Zen downgraded Alvotech from a “hold” rating to a “sell” rating in a research report on Saturday. Evercore initiated coverage on Alvotech in a report on Friday, August 14th. They set an “outperform” rating for the company. Finally, UBS Group set a $8.00 price target on Alvotech in a report on Wednesday, September 16th.

Institutional Investors Weigh In On Alvotech

Several institutional investors and hedge funds have recently made changes to their positions in ALVO. Ulland Investment Advisors LLC boosted its holdings in Alvotech by 5.0% in the third quarter. Ulland Investment Advisors LLC now owns 115,000 shares of the company’s stock valued at $667,000 after purchasing an additional 5,500 shares during the last quarter. ProShare Advisors LLC acquired a new stake in Alvotech during the 3rd quarter worth about $68,000. Commonwealth Equity Services LLC purchased a new position in shares of Alvotech during the 3rd quarter valued at about $69,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Alvotech by 24.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 61,712 shares of the company’s stock valued at $365,000 after buying an additional 12,049 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Alvotech in the 3rd quarter valued at about $100,000.

Alvotech Stock Performance

Shares of ALVO opened at $4.69 on Friday. The company has a 50 day moving average price of $5.28 and a 200-day moving average price of $4.21. Alvotech has a fifty-two week low of $2.94 and a fifty-two week high of $6.53. The stock has a market capitalization of $1.42 billion, a PE ratio of -7.69 and a beta of 0.24.

Alvotech (NASDAQ:ALVO) last issued its quarterly earnings data on Thursday, August 20th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The company had revenue of $106.00 million for the quarter, compared to the consensus estimate of $103.00 million. Equities research analysts forecast that Alvotech will post -0.01 EPS for the current year.

About Alvotech