Alvotech (NASDAQ:ALVO) Raised to Hold at Wall Street Zen
by Amy Steele · The Cerbat GemAlvotech (NASDAQ:ALVO – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.
Several other research analysts have also recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alvotech in a research report on Wednesday, January 21st. Barclays reduced their price target on Alvotech from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Tuesday, March 24th. Zacks Research upgraded Alvotech from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Finally, UBS Group reduced their price target on Alvotech from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.60.
Read Our Latest Report on ALVO
Alvotech Stock Performance
Shares of ALVO stock opened at $3.61 on Friday. The stock has a 50 day moving average of $3.87 and a 200 day moving average of $5.18. The stock has a market cap of $1.09 billion, a P/E ratio of 36.10 and a beta of 0.25. Alvotech has a twelve month low of $3.03 and a twelve month high of $11.85.
Alvotech (NASDAQ:ALVO – Get Free Report) last announced its quarterly earnings results on Wednesday, March 18th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.50). The company 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%. On average, research analysts predict that Alvotech will post -0.07 earnings per share for the current fiscal year.
Institutional Trading of Alvotech
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. increased its position in shares of Alvotech by 57.5% in the fourth quarter. Invesco Ltd. now owns 73,360 shares of the company’s stock valued at $376,000 after buying an additional 26,784 shares in the last quarter. Millennium Management LLC increased its position in shares of Alvotech by 1,707.7% in the fourth quarter. Millennium Management LLC now owns 357,176 shares of the company’s stock valued at $1,832,000 after buying an additional 337,417 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Alvotech in the fourth quarter valued at approximately $108,000. Jane Street Group LLC purchased a new stake in shares of Alvotech in the fourth quarter valued at approximately $474,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Alvotech by 88.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 259,536 shares of the company’s stock valued at $1,331,000 after buying an additional 122,089 shares in the last quarter.
Alvotech Company Profile
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).