Baird last night initiated coverage of Coherus Biosciences with an Outperform rating and $11 price target. The company’s broad commercial pipeline is positioned for accelerating growth, the analyst tells investors in a research note. The firm says Coherus is a commercial-stage biotech company that has demonstrated its expertise in biosimilar drug development and commercialization, with four approved biosimilars for three reference products. While the company faced some headwinds in 2023, Baird anticipates an acceleration of topline growth and a return to being cash flow positive in 2024, notes the analyst.
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