H.C. Wainwright Sticks to Its Buy Rating for Coherus Biosciences (CHRS)

H.C. Wainwright analyst Douglas Tsao reiterated a Buy rating on Coherus Biosciences (CHRSResearch Report) yesterday and set a price target of $30.00. The company’s shares closed last Thursday at $10.58.

According to TipRanks.com, Tsao is a 3-star analyst with an average return of 1.5% and a 39.9% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Cerevel Therapeutics Holdings, and Praxis Precision Medicines.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Coherus Biosciences with a $17.56 average price target, representing a 76.5% upside. In a report issued on August 2, Mizuho Securities also assigned a Buy rating to the stock with a $25.00 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 $60.12 million and GAAP net loss of $96.08 million. In comparison, last year the company earned revenue of $83.03 million and had a GAAP net loss of $173 million.

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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.

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