Coherus Biosciences (CHRS) Received its Third Buy in a Row

After Mizuho Securities and H.C. Wainwright gave Coherus Biosciences (NASDAQ: CHRS) a Buy rating last month, the company received another Buy, this time from Maxim Group. Analyst Jason McCarthy reiterated a Buy rating on Coherus Biosciences today and set a price target of $27.00. The company’s shares closed last Monday at $19.35.

According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.9% and a 32.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group, Hancock Jaffe Laboratories, and Actinium Pharmaceuticals.

Coherus Biosciences has an analyst consensus of Strong Buy, with a price target consensus of $35.33, which is a 90.8% upside from current levels. In a report issued on February 27, Mizuho Securities also maintained a Buy rating on the stock with a $43.00 price target.

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Based on Coherus Biosciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $39.23 million. In comparison, last year the company had a GAAP net loss of $62.6 million.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CHRS in relation to earlier this year.

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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.