Coherus Biosciences (CHRS) Receives a Buy from Maxim Group

Maxim Group analyst Jason McCarthy assigned a Buy rating to Coherus Biosciences (CHRSResearch Report) yesterday and set a price target of $27.00. The company’s shares closed last Friday at $19.63.

According to TipRanks.com, McCarthy is a top 100 analyst with an average return of 38.8% and a 54.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Lineage Cell Therapeutics, and Actinium Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Coherus Biosciences with a $29.20 average price target, representing a 46.4% upside. In a report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $33.00 price target.

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Based on Coherus Biosciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $116 million and net profit of $35.57 million. In comparison, last year the company earned revenue of $37.1 million and had a GAAP net loss of $20 million.

Based on the recent corporate insider activity of 50 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. The company was founded by Dennis M. Lanfear, Stuart E. Builder, Dr. Alan Herman, Doug Farrar and Steve Glover in September 2010 and is headquartered in Redwood City, CA.