TD Cowen analyst Michael Nedelcovych has maintained their bullish stance on CHRS stock, giving a Buy rating today.
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Michael Nedelcovych has given his Buy rating due to a combination of factors that indicate potential growth for Coherus Biosciences. Despite the Q3 Loqtorzi sales coming in below expectations, the company maintains a strong ambition for significant revenue growth in the NPC market, with targets between $150-200 million. The development of their anti-CCR8 mAb CHS-114 and IL-27 antagonist casdozokitug is progressing well, with key data expected in 2026, which could enhance their market position.
Additionally, Coherus Biosciences holds global rights to these promising therapies and is actively seeking partners outside the US, which could open up new revenue streams. Although the non-GAAP net loss was higher than anticipated, the company’s gross margin exceeded expectations, and they have a solid cash runway projected through 2026. These factors collectively support the Buy rating, as they suggest a potential for future financial improvement and strategic growth.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $7.00 price target.