Alvotech (ALVO) - What Are Analysts Thinking About This Stock?

Key Points

• Analyst sentiment is mixed: Six firms rate Alvotech a consensus “Hold,” with four buys and two sells; their average one-year price target is $8.25.
• Alvotech reported quarterly EPS of a $0.11 loss, missing the $0.05 loss analysts expected, while revenue of $106 million exceeded forecasts of $103 million.
• The stock opened at $4.86 on Friday, within its 12-month range of $2.94 to $6.53.

Shares of Alvotech (NASDAQ:ALVO - Get Free Report) have been given a consensus rating of "Hold" by the six research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $8.25.

Several equities analysts have commented on ALVO shares. Evercore began coverage on Alvotech in a report on Friday, August 14th. They issued an "outperform" rating for the company. Weiss Ratings cut Alvotech from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, October 23rd. UBS Group set a $8.00 price objective on shares of Alvotech in a report on Wednesday, September 16th. Barclays raised shares of Alvotech from an "underweight" rating to an "overweight" rating and raised their price target for the stock from $4.00 to $8.00 in a report on Wednesday, September 16th. Finally, Bank of America assumed coverage on Alvotech in a report on Monday, August 24th. They set a "buy" rating and a $7.00 price target for the company.

Alvotech Stock Up 6.8%

ALVO stock opened at $4.86 on Friday. Alvotech has a twelve month low of $2.94 and a twelve month high of $6.53. The firm has a market capitalization of $1.47 billion, a PE ratio of -7.97 and a beta of 0.24. The stock has a 50-day simple moving average of $5.29 and a two-hundred day simple moving average of $4.22.

Alvotech (NASDAQ:ALVO - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The company had revenue of $106.00 million for the quarter, compared to analysts' expectations of $103.00 million. On average, equities research analysts anticipate that Alvotech will post -0.01 EPS for the current fiscal year.

Institutional Trading of Alvotech

Hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC bought a new stake in shares of Alvotech in the second quarter valued at approximately $6,376,000. Renaissance Technologies LLC increased its holdings in Alvotech by 146.9% during the first quarter. Renaissance Technologies LLC now owns 63,200 shares of the company's stock worth $217,000 after buying an additional 37,600 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in Alvotech in the 3rd quarter valued at about $69,000. ProShare Advisors LLC bought a new position in Alvotech during the 3rd quarter worth $68,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Alvotech during the third quarter worth about $100,000.

About Alvotech

Alvotech is a biotechnology company headquartered in Reykjavík, Iceland, focused on developing and manufacturing biosimilar medicines. Biosimilars are biologic products designed to be highly similar to already approved reference medicines and are intended to expand patient access to complex treatments at potentially lower costs.

The company uses an integrated research, development and manufacturing model and concentrates on therapeutic areas including immunology, ophthalmology, oncology and bone health.

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