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ALVO · NASDAQ · Drug Manufacturers - Specialty & Generic

Alvotech

Develops and manufactures biosimilar medicines through an integrated platform and partner network.

$4.94

After-hours close+0.01 (+0.10%)

At close$4.94(+1.13%)

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Profile

AlvotechALVOHealth Care

Develops and manufactures biosimilars, then uses commercial partners for market access in many countries. Several medicines are approved and marketed in multiple markets, while a broader pipeline extends the portfolio.

Develops and manufactures biosimilar medicines through an integrated platform rooted in Reykjavík. Approved products reference Humira, Stelara, Simponi, Eylea, and Prolia/Xgeva, while a broader pipeline extends the portfolio. Commercial partners provide local market access and support launches across international markets. Broad in-house development and manufacturing capabilities are complemented by local commercial expertise.

Regulatory approvals, manufacturing and supply execution, and commercialization partnerships shape the operating model. Several candidates have progressed through FDA resubmissions after Complete Response Letters, and the company added a US second-source manufacturing agreement. In-house development and manufacturing are combined with partner-led commercialization.

Company facts

CEOLisa Graver

ListedJun 16, 2022

ExchangeNASDAQ

HeadquartersLuxembourg, Luxembourg

CountryIceland

Employees1,500

CIK0001898416

ISINLU2458332611

Key statistics

Market cap$1.67B

EPS (ttm)−$0.6343

P/E (ttm)−7.80

ROE76.8%

P/B−9.22

P/S3.40

Dividend yield—

Beta0.58vs XLV 0.49

Year to date −1.3% · Average volume (30d) 1.0M

Analysts

Price target, next 12 months$10.00+102.0%Median of 5 analysts · vs the Aug 28 close

ConsensusBuy2 of 5 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $4.95

High$10.00+102.0%

Median$10.00+102.0%

Low$5.00+1.0%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
Aug 24, 2026	Bank of America Securities	Initiate	Buy
Aug 14, 2026	Evercore ISI	Initiate	Outperform
Dec 8, 2025	Barclays	Target		$22	$5
Dec 3, 2025	Morgan Stanley	Target		$14	$10
Nov 18, 2025	UBS	Reiterate	Buy		$10

Earnings

EPS

Estimate−$0.02

ReportedDue Nov 11, 2026

Revenue

Estimate$136.8M

ReportedDue Nov 11, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 19, 2026Q2 FY26	−$0.05	−$0.11	−109.1%	$103.0M	$106.0M	+2.9%	+7.02%
May 6, 2026Q1 FY26	−$0.07	−$0.09	−28.6%	$112.4M	$105.9M	−5.8%	−10.36%
Mar 18, 2026Q4 FY25	−$0.01	−$0.37	−6,334.8%	$162.2M	$173.2M	+6.8%	−5.79%
Nov 12, 2025Q3 FY25	$0.05	−$0.02	−140.0%	$164.9M	$114.0M	−30.9%	−1.43%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$132.8M	$173.2M	$114.0M	$166.4M	$105.9M	$105.8M
Gross profit	$67.3M	$99.4M	$78.9M	$105.1M	$59.8M	$53.6M
Operating income	$10.6M	$18.1M	$1.4M	$48.2M	$9.6M	−$11.8M
Net income	$109.7M	$32.0M	−$5.2M	−$108.6M	$1.0M	−$66.8M
Diluted EPS	$0.35	$0.10	−$0.02	−$0.43	$0.00	−$0.19
Gross margin	50.7%	57.4%	69.3%	63.2%	56.5%	50.7%
Operating margin	8.0%	10.4%	1.2%	29.0%	9.1%	-11.2%

Fiscal years (4-quarter sums)FY21 $37.1M · FY22 $83.0M · FY23 $91.5M · FY24 $489.7M · FY25 $586.3M

Revenue by geography · FY25

Europe$307.2M · 52%

United States$241.4M · 41%

Rest Of The World$37.7M · 6%

Balance sheet, Jun 30, 2026Cash & short-term investments $142.8M · Total debt $1.45B · Total assets $1.59B · Shareholders' equity −$191.5M

Dividends

No dividends on record.

Ownership

Institutions 5.03%Insiders —

Shares outstanding 338.22M · Float 103.22M · 30.5% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Celtic Holdings S.C.A.	107.45M	27.50%	13D	Jun 30, 2026
Aztiq Pharma Partners S.a r.l.	103.85M	33.30%	13D	Mar 12, 2026
Vanguard Capital Management LLC	3.41M	1.01%	13F	May 15, 2026
Bracebridge Capital, LLC	2.71M	0.80%	13F	May 15, 2026
Millennium Management LLC	2.12M	0.63%	13F	May 15, 2026

Insider tradesForm 4

Nothing filed in the last 12 months.