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

Key Points

• Analysts’ consensus rating is “Hold” (from six brokers: 2 sell, 2 hold, 2 buy) with an average 12‑month price target of $7.60 versus the current share price around $3.62.
• Recent analyst moves are mixed: UBS cut its target to $6 (but kept a buy), Barclays lowered its target to $4 and set underweight, while Zacks and Wall Street Zen upgraded shares to hold and Weiss reiterated a sell.
• Latest quarter showed an EPS miss of ($0.37) versus a $0.13 estimate (miss of $0.50) even as revenue beat at $173.2M; Alvotech has a market cap of about $1.09B and a 12‑month range of $3.03–$11.85.

Shares of Alvotech (NASDAQ:ALVO - Get Free Report) have earned an average recommendation of "Hold" from the six ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $7.60.

Several equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of Alvotech from a "strong sell" rating to a "hold" rating in a report on Thursday, March 19th. 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 report on Tuesday, March 24th. Barclays decreased their price target on shares of Alvotech from $5.00 to $4.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 24th. Wall Street Zen upgraded shares of Alvotech from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Alvotech in a research report on Wednesday, January 21st.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. State of Wyoming bought a new position in Alvotech in the third quarter worth approximately $54,000. ProShare Advisors LLC raised its position in Alvotech by 24.0% in the fourth quarter. ProShare Advisors LLC now owns 13,826 shares of the company's stock worth $71,000 after acquiring an additional 2,675 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Alvotech by 25.7% in the fourth 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 during the period. Magnetar Financial LLC bought a new position in Alvotech in the third quarter worth approximately $86,000. Finally, Ulland Investment Advisors LLC bought a new position in Alvotech in the third quarter worth approximately $92,000.

Alvotech Trading Up 0.3%

Shares of ALVO stock opened at $3.62 on Tuesday. Alvotech has a 12-month low of $3.03 and a 12-month high of $11.85. The firm's 50 day moving average is $3.84 and its 200 day moving average is $5.15. The stock has a market capitalization of $1.09 billion, a P/E ratio of 36.20 and a beta of 0.25.

Alvotech (NASDAQ:ALVO - Get Free Report) last issued its earnings results on Wednesday, March 18th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.50). Alvotech had a negative return on equity of 11.92% and a net margin of 4.74%.The company had revenue of $173.20 million during the quarter, compared to analysts' expectations of $162.20 million. As a group, equities analysts predict that Alvotech will post 0.01 earnings per share for the current year.

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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