Alvotech (Buy, TP: USD21.00) - Increased full-year guidance
With its fiscal Q1 report, Alvotech increased its full-year guidance for revenues and the lower end of the guided adj. EBITDA range. Q1 product sales were somewhat soft YOY and QOQ; however, Simlandi (Humira biosimilar) was not officially launched in the US until May. We expect a strong Q2 given recently signed deals (for private-label shipments of AVT02 to the US market and out-licensing of AVT03 to Dr. Reddy’s). We reiterate our BUY and USD21 target price.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.