Alvotech (NASDAQ:ALVO - Get Free Report) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm currently has a $14.00 price objective on the stock. Deutsche Bank Aktiengesellschaft's target price points to a potential upside of 74.78% from the stock's current price.
ALVO has been the topic of several other reports. UBS Group dropped their price objective on Alvotech from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Zacks Research cut Alvotech from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Alvotech currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.
Get Our Latest Analysis on Alvotech
Alvotech Trading Up 1.6%
NASDAQ ALVO opened at $8.01 on Tuesday. Alvotech has a 12 month low of $7.35 and a 12 month high of $13.70. The stock has a market cap of $2.41 billion, a P/E ratio of 34.83 and a beta of 0.10. The stock's fifty day moving average price is $8.47 and its 200-day moving average price is $9.20.
Alvotech (NASDAQ:ALVO - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.40. Alvotech had a negative return on equity of 38.36% and a net margin of 11.26%.The firm had revenue of $116.02 million for the quarter, compared to analysts' expectations of $120.51 million. As a group, analysts forecast that Alvotech will post -0.07 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new position in Alvotech in the 4th quarter worth approximately $66,000. GF Fund Management CO. LTD. purchased a new position in Alvotech in the 4th quarter worth approximately $74,000. Wolverine Asset Management LLC lifted its holdings in Alvotech by 24.7% in the 1st quarter. Wolverine Asset Management LLC now owns 9,286 shares of the company's stock worth $90,000 after purchasing an additional 1,838 shares in the last quarter. ProShare Advisors LLC purchased a new position in Alvotech in the 4th quarter worth approximately $167,000. Finally, Bank of America Corp DE lifted its holdings in Alvotech by 19.7% in the 4th quarter. Bank of America Corp DE now owns 16,240 shares of the company's stock worth $215,000 after purchasing an additional 2,677 shares in the last quarter.
About Alvotech
(
Get Free Report)
Alvotech, through its subsidiaries, develops and manufactures biosimilar medicines for patients worldwide. It offers biosimilar products in the therapeutic areas of autoimmune, eye, and bone disorders, as well as cancer. The company's lead program is AVT02, a high concentration formulation biosimilar to Humira to treat various inflammatory conditions, including rheumatoid arthritis, psoriatic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and other indications; AVT04, a biosimilar to Stelara to treat various inflammatory conditions comprising psoriatic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and other indications; AVT06, a biosimilar to Eylea to treat various conditions, such as age-related macular degeneration, macular edema, and diabetic retinopathy; and AVT03, a biosimilar to Xgeva and Prolia, which is in the pre-clinical phase to treat prevent bone fracture, spinal cord compression, and the need for radiation or bone surgery in patients with certain types of cancer, as well as prevent bone loss and increase bone mass.
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