Alvotech (NASDAQ:ALVO) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts give Alvotech a consensus “Hold” rating from six research firms (2 sell, 2 hold, 2 buy), with an average 12‑month price target of $7.60.
• In the most recent quarter Alvotech reported an EPS miss of ($0.37) vs. $0.13 expected, while revenue beat at $173.2 million versus $162.2 million forecast.
• Shares trade around $3.24—near the 52‑week low of $3.03 and well below the average $7.60 target—with a market capitalization of about $977 million.

Alvotech (NASDAQ:ALVO - Get Free Report) has earned an average rating of "Hold" from the six research firms that are presently covering the firm, MarketBeat.com 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 target among brokers that have issued a report on the stock in the last year is $7.60.

ALVO has been the topic of several research reports. Zacks Research upgraded shares of Alvotech from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 19th. Weiss Ratings restated a "sell (e+)" rating on shares of Alvotech in a research report on Wednesday, January 21st. Barclays dropped their target price on shares of Alvotech from $5.00 to $4.00 and set an "underweight" rating for the company in a research note on Tuesday. Morgan Stanley set a $10.00 target price on shares of Alvotech in a research report on Wednesday, December 3rd. Finally, UBS Group decreased their price target on shares of Alvotech from $10.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday.

Alvotech Price Performance

ALVO stock opened at $3.24 on Friday. The business has a fifty day moving average price of $4.39 and a 200 day moving average price of $5.74. Alvotech has a fifty-two week low of $3.03 and a fifty-two week high of $11.85. The stock has a market capitalization of $976.80 million, a price-to-earnings ratio of 32.40 and a beta of 0.16.

Alvotech (NASDAQ:ALVO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 18th. The company reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.50). Alvotech had a negative return on equity of 12.84% and a net margin of 4.74%.The business had revenue of $173.20 million during the quarter, compared to analyst estimates of $162.20 million. On average, equities analysts expect that Alvotech will post -0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALVO. State of Wyoming acquired a new stake in shares of Alvotech in the 3rd quarter valued at $54,000. ProShare Advisors LLC lifted its stake in shares of 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 acquiring an additional 2,675 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alvotech by 25.7% during the fourth 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 Alvotech in the third quarter valued at about $86,000. Finally, Ulland Investment Advisors LLC acquired a new stake in Alvotech in the third quarter worth about $92,000.

About Alvotech

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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