TD Cowen analyst Michael Nedelcovych has maintained their bullish stance on CHRS stock, giving a Buy rating today.
Michael Nedelcovych has given his Buy rating due to a combination of factors that reflect Coherus Biosciences’ strategic initiatives and financial outlook. Despite a slight miss in Q4 revenue expectations, the company’s planned divestment of Udenyca is progressing as anticipated, which could bring in significant capital. This divestment is expected to streamline operations and reduce headcount by 30%, aligning with Coherus’ focus on optimizing operational efficiency.
Furthermore, the company’s pipeline remains a focal point, with key decisions anticipated in 2025 that could drive future growth. The ongoing development of Loqtorzi, despite slightly lower than expected sales, maintains a strong peak ambition, and milestone payments tied to its approval are already being realized. These strategic moves, coupled with a robust cash position post-divestment, provide Coherus with a solid foundation for sustained growth, justifying the Buy rating.
Nedelcovych covers the Healthcare sector, focusing on stocks such as Novo Nordisk, Royalty Pharma, and Takeda Pharmaceutical Company. According to TipRanks, Nedelcovych has an average return of -11.9% and a 36.67% success rate on recommended stocks.