Truist analyst Robyn Karnauskas lowered the firm’s price target on Coherus Biosciences (CHRS) to $22 from $24 but keeps a Buy rating on the shares. The company’s acquisition of Surface Oncology (SURF) makes sense considering the combination potential of Tori with Surface’s novel agents, the analyst tells investors in a research note. The firm adds that Coherus Biosciences is not getting credit for the cost savings due to R&D synergies.
Published first on TheFly
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Read More on CHRS:
- Surface Oncology downgraded to Neutral from Outperform at Baird
- Surface Oncology downgraded to Neutral from Buy at H.C. Wainwright
- Coherus Biosciences reaffirms 2023 net revenue view in excess of $275M
- Surface Oncology implements 50% workforce reduction
- Coherus Biosciences to acquire Surface Oncology in stock for stock transaction
