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Mizuho Securities Thinks Coherus Biosciences’ Stock is Going to Recover

Mizuho Securities analyst Salim Syed maintained a Buy rating on Coherus Biosciences (CHRSResearch Report) today and set a price target of $25.00. The company’s shares closed last Tuesday at $6.64, close to its 52-week low of $5.60.

According to TipRanks.com, Syed is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -18.4% and a 32.7% success rate. Syed covers the Healthcare sector, focusing on stocks such as Atara Biotherapeutics, Assembly Biosciences, and Unity Biotechnology.

Coherus Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $18.50.

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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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