Maxim Group analyst Jason McCarthy maintained a Buy rating on Coherus Biosciences (CHRS) today and set a price target of $25. The company’s shares closed yesterday at $14.34.
McCarthy wrote:
“Coherus reported 4Q18 operating expenses of $60.5M and a net loss of ($62.6M). Rising expenses are attributed to continued building of commercial infrastructure to support the UDENYCA (biosimilar Neulasta) launch (commenced on 1/3/19). The company ended the period with a pro forma cash balance of $145.5M, factoring in the $75M debt financing announced on 1/7.”
According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.0% and a 33.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Aridis Pharmaceuticals Inc, and Adial Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Coherus Biosciences with a $25 average price target.
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The company has a one-year high of $20.66 and a one-year low of $8.32. Currently, Coherus Biosciences has an average volume of 721.8K.
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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.
