Mizuho Securities analyst Salim Syed maintained a Buy rating on Coherus Biosciences (CHRS – Research Report) yesterday and set a price target of $35.00. The company’s shares closed last Monday at $15.94.
According to TipRanks.com, Syed has currently no stars on a ranking scale of 0-5 stars, with an average return of -11.0% and a 42.6% success rate. Syed covers the Healthcare sector, focusing on stocks such as Atara Biotherapeutics, Unity Biotechnology, and Wave Life Sciences.
Currently, the analyst consensus on Coherus Biosciences is a Strong Buy with an average price target of $34.00.
Based on Coherus Biosciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $124 million and 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. 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.