Alvotech [NASDAQ: ALVO] jumped around 0.02 points on Friday, while shares priced at $15.82 at the close of the session, up 0.13%. The company report on February 15, 2024 at 6:30 AM that Alvotech Announces Expected Global Market Entry Dates for AVT04 Biosimilar to Stelara® (ustekinumab).
Market entry of AVT04 in Canada is expected in Q1 2024. Launch of AVT04 in Japan is anticipated after the upcoming round of National Health Insurance reimbursement price listings, in May 2024. Entry to the first European markets is expected as soon as possible after the expiration date of the European Supplementary Protection Certificate (SPC) for Stelara, which is in late July 2024.
Compared to the average trading volume of 208.75K shares, ALVO reached a trading volume of 133245 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Alvotech [ALVO]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALVO shares is $14.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALVO stock is a recommendation set at 1.75. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Alvotech shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 29, 2024.
The Average True Range (ATR) for Alvotech is set at 0.43, with the Price to Sales ratio for ALVO stock in the period of the last 12 months amounting to 68.30.
How has ALVO stock performed recently?
Alvotech [ALVO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.02. With this latest performance, ALVO shares gained by 28.98% in over the last four-week period, additionally plugging by 76.17% over the last 6 months – not to mention a rise of 18.50% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALVO stock in for the last two-week period is set at 77.82, with the RSI for the last a single of trading hit 76.00, and the three-weeks RSI is set at 77.96 for Alvotech [ALVO]. The present Moving Average for the last 50 days of trading for this stock 12.88, while it was recorded at 15.74 for the last single week of trading, and 9.94 for the last 200 days.
Alvotech [ALVO]: Deeper insight into the fundamentals
Alvotech’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.78 and a Current Ratio set at 1.22.
Insider trade positions for Alvotech [ALVO]
The top three institutional holders of ALVO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ALVO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ALVO stock with ownership which is approximately 5.8325%.
