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

Alvotech (NASDAQ:ALVO) had its price objective decreased by investment analysts at UBS Group from $13.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 95.69% from the company’s current price.

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

Alvotech Stock Performance

Shares of ALVO traded down $0.03 during mid-day trading on Tuesday, reaching $5.11. 216,588 shares of the company’s stock traded hands, compared to its average volume of 306,637. The business’s 50-day moving average price is $7.60 and its 200-day moving average price is $8.65. Alvotech has a 12 month low of $4.70 and a 12 month high of $13.70. The stock has a market capitalization of $1.54 billion, a P/E ratio of 22.22 and a beta of 0.10.

Alvotech (NASDAQ:ALVO) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The company had revenue of $113.95 million for the quarter, compared to analyst estimates of $116.80 million. Alvotech had a negative return on equity of 23.47% and a net margin of 12.12%. Alvotech has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Alvotech will post -0.07 EPS for the current year.

Institutional Investors Weigh In On Alvotech

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Alvotech by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 230,291 shares of the company’s stock valued at $2,100,000 after purchasing an additional 1,574 shares during the period. Wolverine Asset Management LLC grew its stake in shares of Alvotech by 24.7% during the first 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. Tempus Wealth Planning LLC boosted its position in Alvotech by 6.8% during the 3rd quarter. Tempus Wealth Planning LLC now owns 33,806 shares of the company’s stock valued at $277,000 after buying an additional 2,154 shares during the period. TBH Global Asset Management LLC raised its position in Alvotech by 16.4% during the 2nd quarter. TBH Global Asset Management LLC now owns 35,500 shares of the company’s stock valued at $324,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Vident Advisory LLC boosted its holdings in Alvotech by 24.7% in the first quarter. Vident Advisory LLC now owns 25,281 shares of the company’s stock valued at $244,000 after acquiring an additional 5,009 shares in 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.