Coherus Biosciences (CHRS) Gets a Buy Rating from Maxim Group


In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Coherus Biosciences (NASDAQ: CHRS), with a price target of $25. The company’s shares opened today at $16.05.

McCarthy said:

“Coherus announced that UDENYCA (Neulasta biosimilar) has been granted marketing authorization by the European Commission (EC). Not surprising given that advancing biosimilars to approvals in the EU has been in our view, less challenging. Overall, very good news for Coherus. UDENYCA is also under review in the US (BSUFA 11/3/18) which is a significant catalyst for CHRS shares.”

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 17.3% and a 51.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

Coherus Biosciences has an analyst consensus of Strong Buy, with a price target consensus of $26.

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Based on Coherus Biosciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $43.64 million. In comparison, last year the company had a GAAP net loss of $55.34 million.

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Coherus BioSciences, Inc. is a late-stage clinical biologics platform company, which engages in the development and commercialization of biosimilar therapeutics. Its clinical products include pegfilgrastim biosimilar, adalimumab biosimilar, etanercept biosimilar, ranibizumab biosimilar, and aflibercept biosimilar.

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