Alvotech (NASDAQ:ALVO) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Alvotech from a "hold" to a "sell"; analysts remain split (2 Buy / 2 Hold / 2 Sell) with a consensus rating of Hold and a consensus price target of $7.60.
• Q results showed an EPS miss (−$0.37 vs. $0.13 estimate) despite revenue beating expectations ($173.2M vs. $162.2M); the stock recently opened near $3.65, with a 12‑month range of $3.03–$11.85 and a market cap of about $1.10 billion.

Alvotech (NASDAQ:ALVO - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday.

A number of other analysts have also commented on ALVO. Barclays decreased their target price on Alvotech from $5.00 to $4.00 and set an "underweight" rating for the company in a research report on Tuesday, March 24th. UBS Group cut their target price on Alvotech from $10.00 to $6.00 and set a "buy" rating on the stock in a report on Tuesday, March 24th. Zacks Research upgraded shares of Alvotech from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 19th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Alvotech in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $7.60.

Alvotech Price Performance

NASDAQ:ALVO opened at $3.65 on Friday. Alvotech has a twelve month low of $3.03 and a twelve month high of $11.85. The company has a fifty day moving average of $4.20 and a 200-day moving average of $5.53. The firm has a market capitalization of $1.10 billion, a P/E ratio of 36.50 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 12.84% and a net margin of 4.74%.The company had revenue of $173.20 million for the quarter, compared to the consensus estimate of $162.20 million. On average, analysts anticipate that Alvotech will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Alvotech

A number of institutional investors and hedge funds have recently bought and sold shares of ALVO. Norges Bank purchased a new stake in shares of Alvotech in the second quarter valued at about $1,656,000. Vanguard Group Inc. boosted its holdings in Alvotech by 2.7% during the third quarter. Vanguard Group Inc. now owns 4,348,151 shares of the company's stock worth $35,481,000 after purchasing an additional 114,255 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Alvotech by 0.7% during the second quarter. Geode Capital Management LLC now owns 230,291 shares of the company's stock worth $2,100,000 after purchasing an additional 1,574 shares during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in Alvotech in the 2nd quarter worth about $1,782,000. Finally, Jane Street Group LLC bought a new stake in Alvotech in the 4th quarter worth about $474,000.

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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