Alvotech (IC:ALVO) was upgraded to "buy" from "hold" by analyst Niall Alexander from Deutsche Bank Research, who kept the price target unchanged at $14. The company’s shares last closed at $8.01.
Alexander said the upgrade follows a shift in outlook as Alvotech moves closer to additional biosimilar launches and approval dates.
He noted that two biosimilars have already made the business profitable and free cash flow positive, creating conditions for stronger performance ahead.
The analyst pointed out that despite a 40% year-to-date decline, driven by sector overhangs and setbacks such as the failure to secure a private-label agreement for ustekinumab, the current share price offers an appealing entry point.
Source :
https://www.investing.com/news/stock-market-news/alvotech-upgraded-to-buy-by-deutsche-bank-as-biosimilar-launches-boost-outlook-4251000
