Wall Street Zen Upgrades Alvotech (NASDAQ:ALVO) to Hold

Key Points

• Wall Street Zen upgraded Alvotech from a "sell" to a "hold"; analysts are split (2 Buy, 2 Hold, 2 Sell) with an average rating of Hold and an average price target of $7.60.
• Alvotech missed on EPS (reported -$0.37 vs. $0.13 expected) despite a revenue beat of $173.2M, and its stock trades around $3.61 (near its 1‑year low) with a market cap of about $1.09B.

Alvotech (NASDAQ:ALVO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Other equities analysts have also issued research reports about the stock. Barclays reduced their price target on shares of 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 lowered their price objective 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. 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 reissued a "sell (e+)" rating on shares of Alvotech in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Alvotech currently has an average rating of "Hold" and an average price target of $7.60.

Alvotech Trading Down 0.3%

ALVO stock opened at $3.61 on Friday. The stock's fifty day simple moving average is $3.87 and its two-hundred day simple moving average is $5.23. Alvotech has a 1-year low of $3.03 and a 1-year high of $11.85. The stock has a market cap of $1.09 billion, a P/E ratio of 36.10 and a beta of 0.25.

Alvotech (NASDAQ:ALVO - Get Free Report) last announced 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). The business had revenue of $173.20 million for the quarter, compared to analysts' expectations of $162.20 million. Alvotech had a net margin of 4.74% and a negative return on equity of 11.92%. As a group, analysts forecast that Alvotech will post -0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alvotech

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Alvotech by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 230,291 shares of the company's stock valued at $2,100,000 after acquiring an additional 1,574 shares during the period. Tempus Wealth Planning LLC boosted its position in Alvotech by 6.8% during the third quarter. Tempus Wealth Planning LLC now owns 33,806 shares of the company's stock worth $277,000 after purchasing an additional 2,154 shares during the period. ProShare Advisors LLC boosted its position in Alvotech by 24.0% during the fourth quarter. ProShare Advisors LLC now owns 13,826 shares of the company's stock worth $71,000 after purchasing an additional 2,675 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 purchasing an additional 3,110 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Alvotech by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 24,455 shares of the company's stock worth $200,000 after purchasing an additional 5,697 shares in the last quarter.

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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