Alvotech (NASDAQ:ALVO) Receives Average Rating of “Hold” from Analysts

Alvotech (NASDAQ:ALVO) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $7.60.

A number of research analysts have recently commented on ALVO shares. Weiss Ratings lowered Alvotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 9th. Wall Street Zen downgraded shares of Alvotech from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd.

Alvotech Price Performance

Shares of ALVO stock opened at $3.79 on Thursday. Alvotech has a 12-month low of $2.94 and a 12-month high of $9.25. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -15.16 and a beta of 0.18. The business has a 50 day simple moving average of $3.58 and a 200 day simple moving average of $3.85.

Alvotech (NASDAQ:ALVO) last posted its earnings results on Tuesday, March 31st. The company reported ($0.09) EPS for the quarter. Alvotech had a negative net margin of 14.36% and a negative return on equity of 11.92%. The business had revenue of $105.90 million during the quarter. On average, equities analysts anticipate that Alvotech will post 0.05 EPS for the current fiscal year.

Institutional Trading of Alvotech

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its holdings in shares of Alvotech by 146.9% in the first quarter. Renaissance Technologies LLC now owns 63,200 shares of the company’s stock valued at $217,000 after acquiring an additional 37,600 shares in the last quarter. Invesco Ltd. raised its holdings in Alvotech by 57.5% during the fourth quarter. Invesco Ltd. now owns 73,360 shares of the company’s stock worth $376,000 after purchasing an additional 26,784 shares in the last quarter. Millennium Management LLC raised its holdings in Alvotech by 1,707.7% during the fourth quarter. Millennium Management LLC now owns 357,176 shares of the company’s stock worth $1,832,000 after purchasing an additional 337,417 shares in the last quarter. Stifel Financial Corp acquired a new stake in Alvotech in the fourth quarter worth approximately $108,000. Finally, Jane Street Group LLC acquired a new stake in Alvotech in the fourth quarter worth approximately $474,000.

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).