Alvotech Faces 'Soft' Q2 but Well Positioned to Benefit From Upcoming Biosimilar Opportunity, UBS Says

MT Newswires Live07-07

Alvotech (ALVO) is likely to report a "soft quarter" due to production disruptions tied to regulatory resubmissions, but is well positioned to benefit from the upcoming biosimilar loss of exclusivity opportunity, UBS said in a Q2 preview received on Monday.

The company is scheduled to report its Q2 results on Aug.19.

UBS lowered its Q2 forecasts to $106 million in revenue and $15 million in operating income from $146 million and $36 million, respectively. The brokerage said production resumed in June and expects a "significant step-up" in the second half.

With the company's management reiterating confidence that the targeted Q4 approval and launch timeline remains on track across three assets, UBS said the risk/reward is skewed heavily to the upside.

UBS reiterated its buy rating and price target of $6.

Price: 3.48, Change: -0.13, Percent Change: -3.66

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment