Alvotech’s (ALVO) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (e+) rating on shares of Alvotech (NASDAQ:ALVO) in a report published on Friday morning,Weiss Ratings reports.

Other equities research analysts have also issued reports about the stock. Morgan Stanley set a $14.00 price objective on shares of Alvotech and gave the stock an “overweight” rating in a report on Tuesday, October 14th. UBS Group dropped their price objective on shares of Alvotech from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Alvotech from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, September 23rd. Finally, Zacks Research lowered shares of Alvotech from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Alvotech has a consensus rating of “Hold” and a consensus target price of $14.00.

Alvotech Stock Up 3.1%

Shares of NASDAQ ALVO opened at $8.40 on Friday. The company’s fifty day moving average is $8.28 and its 200-day moving average is $8.89. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 36.52 and a beta of 0.10. Alvotech has a twelve month low of $7.35 and a twelve month high of $13.70.

Alvotech (NASDAQ:ALVO) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.40. The company had revenue of $116.02 million for the quarter, compared to analysts’ expectations of $120.51 million. Alvotech had a net margin of 11.26% and a negative return on equity of 38.36%. On average, research analysts anticipate that Alvotech will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Alvotech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALVO. China Universal Asset Management Co. Ltd. increased its stake in Alvotech by 6.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 60,472 shares of the company’s stock valued at $585,000 after buying an additional 3,896 shares during the last quarter. Royce & Associates LP increased its stake in Alvotech by 7.6% in the 1st quarter. Royce & Associates LP now owns 171,043 shares of the company’s stock valued at $1,654,000 after buying an additional 12,043 shares during the last quarter. Vanguard Group Inc. increased its stake in Alvotech by 31.1% in the 1st quarter. Vanguard Group Inc. now owns 4,192,461 shares of the company’s stock valued at $40,306,000 after buying an additional 995,538 shares during the last quarter. Wolverine Asset Management LLC increased its stake in Alvotech by 24.7% in the 1st quarter. Wolverine Asset Management LLC now owns 9,286 shares of the company’s stock valued at $90,000 after buying an additional 1,838 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Alvotech by 110.6% in the 1st quarter. Invesco Ltd. now owns 23,604 shares of the company’s stock valued at $228,000 after buying an additional 12,394 shares during the last quarter.

Alvotech Company Profile

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.