UBS Group Cuts Alvotech (NASDAQ:ALVO) Price Target to $10.00

Alvotech (NASDAQ:ALVO) had its target price reduced by UBS Group from $13.00 to $10.00 in a report released on Tuesday morning, MarketBeat.com reports. UBS Group currently has a buy rating on the stock.

A number of other equities research analysts have also commented on the company. Zacks Research lowered Alvotech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $8.00 target price (down previously from $14.00) on shares of Alvotech in a report on Tuesday, November 4th. Morgan Stanley set a $14.00 price target on shares of Alvotech and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Northland Securities set a $10.00 price objective on shares of Alvotech in a research report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alvotech in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.50.

Alvotech Stock Performance

Shares of NASDAQ ALVO opened at $5.06 on Tuesday. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 22.00 and a beta of 0.10. Alvotech has a fifty-two week low of $4.70 and a fifty-two week high of $13.70. The firm’s 50-day simple moving average is $7.42 and its 200 day simple moving average is $8.58.

Alvotech (NASDAQ:ALVO) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). Alvotech had a negative return on equity of 26.10% and a net margin of 12.12%.The company had revenue of $113.95 million for the quarter, compared to the consensus estimate of $116.80 million. Alvotech has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Alvotech will post -0.07 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALVO. Geode Capital Management LLC increased its stake in shares of Alvotech by 0.7% during the 2nd 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. Wolverine Asset Management LLC increased its position in Alvotech by 24.7% in the first quarter. Wolverine Asset Management LLC now owns 9,286 shares of the company’s stock worth $90,000 after buying an additional 1,838 shares during the last quarter. Tempus Wealth Planning LLC increased its position in Alvotech by 6.8% in the third quarter. Tempus Wealth Planning LLC now owns 33,806 shares of the company’s stock worth $277,000 after buying an additional 2,154 shares during the last quarter. TBH Global Asset Management LLC raised its stake in shares of Alvotech by 16.4% in the second quarter. TBH Global Asset Management LLC now owns 35,500 shares of the company’s stock valued at $324,000 after buying an additional 5,000 shares during the period. Finally, Vident Advisory LLC lifted its position in shares of Alvotech by 24.7% during the 1st quarter. Vident Advisory LLC now owns 25,281 shares of the company’s stock valued at $244,000 after buying an additional 5,009 shares during the last quarter.

About Alvotech

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.