Truist analyst Robyn Karnauskas lowered the firm’s price target on Coherus Biosciences to $12 from $20 but keeps a Buy rating on the shares after its Q3 results. The company is on the right track to profitability, but the stock could trade down following the company’s revenue miss and lowered FY23 revenue guidance, the analyst tells investors in a research note. Truist adds that it remains bullish on Cimerli and Udenyca volume growth, but also notes the pricing pressure on Udenyca.
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