Alvotech (NASDAQ:ALVO) Receives $7.60 Average PT from Analysts
by Kim Johansen · The Markets DailyAlvotech (NASDAQ:ALVO – Get Free Report) has been given a consensus rating of “Hold” by the six research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $7.60.
Several analysts recently weighed in on ALVO shares. Barclays decreased their price target on Alvotech from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Tuesday, March 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alvotech in a research report on Wednesday, January 21st. Zacks Research raised shares of Alvotech from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Wall Street Zen upgraded shares of Alvotech from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, UBS Group dropped their price target on shares of Alvotech from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, March 24th.
Read Our Latest Research Report on Alvotech
Alvotech Stock Performance
ALVO opened at $3.65 on Friday. The firm has a market cap of $1.10 billion, a P/E ratio of 36.50 and a beta of 0.25. Alvotech has a 12 month low of $3.03 and a 12 month high of $11.85. The stock has a 50-day moving average of $4.23 and a 200 day moving average of $5.57.
Alvotech (NASDAQ:ALVO – Get Free Report) last issued its quarterly earnings data on Wednesday, March 18th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 12.84%. On average, research analysts forecast that Alvotech will post -0.07 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Alvotech
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALVO. Millennium Management LLC lifted its holdings in shares of Alvotech by 1,707.7% in the 4th quarter. Millennium Management LLC now owns 357,176 shares of the company’s stock worth $1,832,000 after buying an additional 337,417 shares during the period. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Alvotech in the second quarter valued at about $1,782,000. Norges Bank purchased a new stake in Alvotech in the second quarter worth about $1,656,000. Goldman Sachs Group Inc. lifted its stake in Alvotech by 88.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 259,536 shares of the company’s stock worth $1,331,000 after acquiring an additional 122,089 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Alvotech by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,348,151 shares of the company’s stock worth $35,481,000 after acquiring an additional 114,255 shares in the last quarter.
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).