Alvotech Rated Outperform at Evercore, Following Reduced FDA Regulatory Risks

Evercore ISI initiated coverage on Alvotech (NASDAQ:ALVO) with an outperform rating. The firm’s analysis notes that a recent Voluntary Action Indicated (VAI) classification from the FDA substantially reduces risks for upcoming fourth-quarter Biosimilar User Fee Act (BSUFA) dates.

Alvotech could potentially deleverage its balance sheet if planned biosimilar launches proceed successfully. Analysts cautioned that outstanding intellectual property questions may still delay commercial launches despite potential regulatory approvals.

Wall Street maintains a consensus outperform rating on the biotechnology company. Current analyst price targets for Alvotech range from $4 to $9.