TD Cowen analyst Michael Nedelcovych has reiterated their bullish stance on CHRS stock, giving a Buy rating yesterday.
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Michael Nedelcovych has given his Buy rating due to a combination of factors that highlight the potential for Coherus Biosciences’ future growth. Despite recent revenue figures falling short of expectations, the company has completed the divestment of Udenyca, which is expected to bring in up to $558 million. This strategic move is anticipated to strengthen the company’s financial position and provide significant cash reserves.
Furthermore, Coherus Biosciences maintains its ambitious revenue targets for Loqtorzi, aiming for peak sales of $150-200 million over the next three years. The company is also set to make a milestone payment to Junshi, reflecting ongoing progress in their collaboration. With these strategic initiatives and financial maneuvers, Coherus is positioned to navigate its current challenges and capitalize on future opportunities, supporting the Buy rating.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $7.00 price target.