Coherus Biosciences (CHRS)
NASDAQ:CHRS
Top Page
Coherus Biosciences
(NASDAQ:CHRS)
Select Model
Select Model
Rating:52Neutral
Price Target:
$1.50
▼(-10.71% Downside)
Action:ReiteratedDate:04/01/26
The score is held back primarily by weak operating performance and ongoing cash burn, despite a repaired balance sheet. Offsetting this, earnings-call commentary points to improving commercial momentum, liquidity, and de-risking actions, while technicals and valuation are neutral-to-weak and do not provide strong support.
Positive Factors
Accelerating LOQTORZI commercial growth
Sustained double‑digit demand growth and 113% y/y revenue expansion for LOQTORZI indicate durable commercial adoption in its oncology niche. Continued quarter‑over‑quarter demand helps establish recurring revenue cadence and supports the multi‑year path to scale and margin improvement as fixed commercial costs are absorbed.
Negative Factors
Persistent negative cash generation
Multi‑year negative operating and free cash flow signal structural cash consumption from ongoing ops and development. Even with recent improvements, persistent burn increases reliance on capital markets or milestone funding, raising execution and dilution risk if commercial scale or partner receipts are delayed.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating LOQTORZI commercial growth
Sustained double‑digit demand growth and 113% y/y revenue expansion for LOQTORZI indicate durable commercial adoption in its oncology niche. Continued quarter‑over‑quarter demand helps establish recurring revenue cadence and supports the multi‑year path to scale and margin improvement as fixed commercial costs are absorbed.
Read all positive factors
Coherus Biosciences (CHRS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$251.82M
Dividend YieldN/A
Average Volume (3M)1.25M
Price to Earnings (P/E)―
Beta (1Y)1.21
Revenue Growth-72.54%
EPS Growth-19972.15%
CountryUS
Employees228
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.39
Shares Outstanding149,889,910
10 Day Avg. Volume672,255
30 Day Avg. Volume1,252,938
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)2.80
Price to Sales (P/S)4.05
P/FCF Ratio-1.23
Enterprise Value/Market Cap0.60
Enterprise Value/Revenue3.60
Enterprise Value/Gross Profit5.35
Enterprise Value/Ebitda-0.89
Forecast
1Y Price Target
$7.00Price Target Upside316.67% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.92
Revenue Forecast (FY)$88.25M
Coherus Biosciences Business Overview & Revenue Model
Company Description
Coherus Oncology, Inc., a biopharmaceutical company, researches, develops, and commercializes immunotherapies to treat cancer in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulatin...
How the Company Makes Money
Coherus primarily makes money by commercializing biosimilar drugs and recognizing net product revenue from their sales in the U.S. Revenue is generated when Coherus (directly or through commercialization partners) sells these products to wholesale...
Coherus Biosciences Earnings Call Summary
Earnings Call Date:Mar 09, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive outlook: the company has materially improved its balance sheet (>$250M divestiture proceeds and >90% debt reduction), demonstrated strong commercial momentum with LOQTORZI (113% y/y revenue growth) and compelling survival data, secured a strategic J&J collaboration, and expects multiple clinical readouts beginning mid-2026. Offsetting items include increased R&D spending (~49% Q4 y/y), remaining legacy liabilities and channel variability, and the multi-year path to achieve commercial scale (target $175M peak in 2028 and quarterly break-even thresholds). Overall, the positive developments (de-risked balance sheet, accelerating revenues, strategic partnerships, and promising clinical signals) outweigh the challenges reported.Positive Updates
Strategic Transformation and Balance Sheet Strengthening
Completed transition to an innovative oncology company, divested biosimilar franchise for $250 million, and reduced secured and convertible debt by over 90% from ~$480 million to $38.8 million at year-end 2025.
Negative Updates
Rising R&D Spend
R&D expenses from continuing operations increased to $31.0 million in Q4 2025 versus $20.8 million in Q4 2024, an increase of ~49%, reflecting higher investment in the pipeline and upcoming clinical programs.
Read all updates
Q4-2025 Updates
Positive
Negative
Strategic Transformation and Balance Sheet Strengthening
Completed transition to an innovative oncology company, divested biosimilar franchise for $250 million, and reduced secured and convertible debt by over 90% from ~$480 million to $38.8 million at year-end 2025.
Read all positive updates
Company Guidance
The call provided clear financial and operational guidance: LOQTORZI net revenue grew to $40.8M in FY2025 (113% vs $19.1M in 2024), with Q4 revenue $12.4M (11% vs Q3) and Q4 demand growth of 15.5%; management expects average quarter-over-quarter demand growth of 10–15% going forward, and will give full-year 2026 revenue guidance in August. They reiterated milestones toward a $175M peak LOQTORZI run-rate (≈70% share of a $250M NPC market) by 2028 and noted commercial breakeven inflection points at ~$15–16M/quarter (commercial effort pays for itself) and ~$30–35M/quarter (core cash burn covered, excluding clinical spend). Balance sheet and run‑rate guidance included cash, equivalents and investments of $172.1M year‑end plus a recent ~$50M raise, debt reduced >90% from $480M to $38.8M (interest cash paid $9.9M in 2025 vs $25.4M in 2024), eligibility for two $37.5M earn‑outs tied to $300M/$350M UDENYCA sales, and confidence in funding into key 2026/2027 milestones; operational efficiencies cited include headcount down ~35% (228→147), Q4 SG&A $23.6M (from $29.6M), Q4 R&D $31.0M (from $20.8M), TSA receivables reduced $241M→<$1M and TSA liabilities $254M→$65M, and clinical data readouts expected from mid‑2026 onward.Coherus Biosciences Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
52
Neutral
Cash Flow
23
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 42.17M | 266.96M | 257.24M | 211.04M | 326.55M |
| Gross Profit | 28.36M | 149.41M | 98.25M | 140.96M | 268.96M |
| EBITDA | -170.20M | 60.94M | -193.94M | -255.58M | -260.69M |
| Net Income | -170.29M | 28.51M | -237.89M | -291.75M | -287.10M |
Balance Sheet | |||||
| Total Assets | 258.34M | 448.53M | 629.60M | 480.85M | 679.33M |
| Cash, Cash Equivalents and Short-Term Investments | 172.13M | 125.99M | 117.75M | 191.68M | 417.19M |
| Total Debt | 40.34M | 269.90M | 480.84M | 480.42M | 419.02M |
| Total Liabilities | 197.33M | 580.52M | 823.03M | 618.26M | 581.61M |
| Stockholders Equity | 61.01M | -131.99M | -193.43M | -137.42M | 97.73M |
Cash Flow | |||||
| Free Cash Flow | -138.51M | -20.44M | -175.17M | -243.16M | -38.72M |
| Operating Cash Flow | -138.51M | -20.44M | -174.88M | -241.12M | -37.43M |
| Investing Cash Flow | 375.09M | 230.32M | 144.64M | -166.85M | -138.41M |
| Financing Cash Flow | -273.70M | -186.97M | 69.60M | 54.33M | 51.88M |
Coherus Biosciences Technical Analysis
Positive
1.68
Price Trends
1.79
Negative
1.62
Positive
1.44
Positive
Market Momentum
-0.02
Negative
48.86
Neutral
46.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CHRS, the sentiment is Positive. The current price of 1.68 is above the 20-day moving average (MA) of 1.66, below the 50-day MA of 1.79, and above the 200-day MA of 1.44, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 48.86 is Neutral, neither overbought nor oversold. The STOCH value of 46.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CHRS.
Coherus Biosciences Risk Analysis
Coherus Biosciences disclosed 68 risk factors in its most recent earnings report. Coherus Biosciences reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Coherus Biosciences Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $185.31M | -21.41 | -13.46% | ― | 35.42% | ― | |
52 Neutral | $251.82M | -1.00 | 789.35% | ― | -72.54% | -19972.15% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $854.81M | -18.84 | -63.06% | ― | ― | 59.04% | |
47 Neutral | $128.19M | -1.23 | -271.32% | ― | -75.77% | -31.24% | |
40 Underperform | $79.76M | -2.15 | 13.30% | ― | 448.44% | ― |
* Healthcare Sector Average
CHRS
Coherus Biosciences
1.71
0.74
75.56%
SLS
SELLAS Life Sciences Group
4.76
3.62
317.54%
PLX
Protalix
2.29
-0.33
-12.60%
MCRB
Seres Therapeutics
8.58
-4.69
-35.32%
IPHA
Innate Pharma
1.44
-0.46
-24.21%
Coherus Biosciences Corporate Events
Private Placements and Financing
Coherus Biosciences Completes $47 Million Equity Offering
Positive
Feb 17, 2026
On February 12, 2026, Coherus Oncology, Inc. entered into an underwriting agreement with a syndicate of underwriters to sell 28,600,000 shares of its common stock at a public price of $1.75 per share, with an additional 4,290,000-share over-allotm...
Business Operations and Strategy
Coherus Signs Clinical Supply Deal With Janssen Oncology
Positive
Feb 4, 2026
On February 4, 2026, Coherus Oncology, Inc. announced a clinical supply agreement with Janssen Research Development, LLC to evaluate tagmokitug (CHS-114), its investigational anti-CCR8 cytolytic monoclonal antibody, in combination with Janssen...
Private Placements and FinancingRegulatory Filings and Compliance
Coherus Biosciences Updates ATM Equity Offering Program
Neutral
Jan 23, 2026
On January 23, 2026, Coherus Oncology, Inc. filed a prospectus supplement tied to its existing sales agreement with TD Securities (USA) LLC (TD Cowen), updating its plan to periodically issue and sell up to $64.88 million of its common stock. The ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.