Alvotech (NASDAQ:ALVO) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Alvotech has a consensus “Hold” rating from six analysts: two rate the stock a sell, two a hold, and two a buy. The average 12-month price target is $7.60, versus a recent share price of $3.53.
• Institutional investors increased their exposure, with ProShare Advisors and Mirae Asset raising their positions and several other firms establishing new stakes.
• Alvotech reported quarterly revenue of $105.9 million and a loss of $0.09 per share. The company remains unprofitable, with a negative net margin of 14.36%, while analysts expect full-year EPS of $0.05.

Shares of Alvotech (NASDAQ:ALVO - Get Free Report) have been assigned an average rating of "Hold" from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $7.60.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC boosted its position 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 buying an additional 2,675 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Alvotech by 25.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,211 shares of the company's stock valued at $78,000 after acquiring an additional 3,110 shares during the period. Magnetar Financial LLC bought a new position in shares of Alvotech during the third quarter valued at $86,000. Orion Porfolio Solutions LLC bought a new position in shares of Alvotech during the third quarter valued at $92,000. Finally, Stifel Financial Corp acquired a new position in shares of Alvotech during the fourth quarter worth $108,000.

Alvotech Trading Up 13.9%

Shares of Alvotech stock opened at $3.53 on Thursday. The firm's 50 day moving average is $3.55 and its 200 day moving average is $3.87. The firm has a market capitalization of $1.07 billion, a PE ratio of -14.12 and a beta of 0.19. Alvotech has a 1 year low of $2.94 and a 1 year high of $9.73.

Alvotech (NASDAQ:ALVO - Get Free Report) 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 during the quarter. Alvotech had a negative net margin of 14.36% and a negative return on equity of 11.92%. As a group, research analysts anticipate that Alvotech will post 0.05 earnings per share 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).

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