Maxim Group Maintains Their Buy Rating on Coherus Biosciences (CHRS)


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 opened today at $8.80, close to its 52-week low of $8.32.

McCarthy noted:

“Coherus announced securing a $75M secured credit facility agreement with Healthcare Royalty Partners. The company previously reported a cash balance of $117M at the end of 3Q18. We estimate the company currently has ~$145M in cash and is in a strong position to support the ongoing launch of UDENYCA (launched January 3, 2019). Deal Terms. The senior secured credit facility matures on and pays interest quarterly at a rate of 3–month LIBOR plus 7% per annum. Subject to other customary fees, the senior secured credit facility will also be subject to a 4% final payment premium owed on the entire principal amount funded.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -11.6% and a 23.0% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Coherus Biosciences with a $29.33 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 751.5K.

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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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