In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Coherus Biosciences (CHRS), with a price target of $25. The company’s shares closed yesterday at $20.29.
McCarthy wrote:
“Coherus announced preliminary net sales on UDENYCA of $79M-$84M suggesting swift uptake. This is more than double the 1Q19 figure of $37M. Despite the increase in sales, CHRS shares were down over 13% yesterday.”
According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -19.4% and a 24.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Aridis Pharmaceuticals Inc, and Achieve Life Sciences Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Coherus Biosciences with a $28 average price target, representing a 38.0% upside. In a report released yesterday, Barclays also reiterated a Buy rating on the stock with a $31 price target.
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The company has a one-year high of $23.43 and a one-year low of $8.32. Currently, Coherus Biosciences has an average volume of 1.07M.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is neutral on the stock.
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Coherus BioSciences, Inc. is a commercial-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.
