Wall Street Zen lowered shares of Alvotech (NASDAQ:ALVO – Free Report) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.
Several other analysts also recently commented on ALVO. UBS Group set a $8.00 target price on Alvotech in a research note on Wednesday, September 16th. Evercore assumed coverage on Alvotech in a research note on Friday, August 14th. They issued an “outperform” rating for the company. Weiss Ratings downgraded Alvotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 23rd. Bank of America initiated coverage on Alvotech in a research report on Monday, August 24th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, Zacks Research downgraded Alvotech from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.25.
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Alvotech Stock Performance
Shares of ALVO stock opened at $4.69 on Friday. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -7.69 and a beta of 0.24. Alvotech has a one year low of $2.94 and a one year high of $6.53. The company’s 50-day moving average is $5.28 and its 200 day moving average is $4.21.
Alvotech (NASDAQ:ALVO – Get Free Report) last issued its earnings results on Thursday, August 20th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The firm had revenue of $106.00 million for the quarter, compared to analysts’ expectations of $103.00 million. As a group, research analysts predict that Alvotech will post -0.01 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Alvotech
A number of large investors have recently added to or reduced their stakes in ALVO. Royce & Associates LP purchased a new stake in Alvotech during the 3rd quarter valued at $3,817,000. Commonwealth Equity Services LLC purchased a new position in shares of Alvotech in the 3rd quarter worth $69,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Alvotech in the 3rd quarter worth $100,000. ProShare Advisors LLC bought a new stake in shares of Alvotech in the third quarter worth $68,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Alvotech by 24.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 61,712 shares of the company’s stock worth $365,000 after acquiring an additional 12,049 shares during the period.
About Alvotech
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