Coherus Biosciences (CHRS) AI Stock Analysis

• Market Cap: $152.26M
• Dividend Yield: N/A
• Average Volume (3M): 1.44M
• Price to Earnings (P/E): 5.5
• Beta (1Y): 1.62
• Revenue Growth: -53.67%
• EPS Growth: -330.15%
• Country: US
• Employees: 228
• Sector: Healthcare
• Sector Strength: 51
• Industry: Biotechnology
• EPS (TTM): -0.39
• Shares Outstanding: 116,227,270
• 10 Day Avg. Volume: 1,287,356
• 30 Day Avg. Volume: 1,438,557
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: -0.65
• Enterprise Value/Revenue: -0.69
• Enterprise Value/Gross Profit: -1.22
• Enterprise Value/Ebitda: 0.72
• 1Y Price Target: $4.03
• Price Target Upside: 212.40% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 50 Neutral
• Price Target: $1.00 ▼(-22.48% Downside)

Coherus Biosciences faces significant financial challenges, with declining revenue and negative cash flows being the most critical issues. While technical indicators show some short-term bullish momentum, valuation remains unattractive due to ongoing losses. The earnings call provided some optimism with strategic repositioning and pipeline developments, but risks such as potential delisting and competitive pressures weigh heavily on the stock's outlook.

Positive Factors

Financial Stability

Coherus had $238M in cash at the end of the quarter, providing financial stability and operational runway into 2027.

Market Potential

With the restructuring and divesture of Udenyca in the rear mirror, Coherus is better positioned to realize the $150M-$200M market potential of Loqtorzi in NPC alone.

Strategic Transition

Coherus has transitioned away from biosimilars and into a pure-play immuno-oncology company, with two novel assets approaching key data readouts that could unlock significant value.

Negative Factors

Competitive Environment

Checkpoint inhibitors remain a crowded space dominated by some of the largest players in pharma, and Coherus' pipeline assets to pair with the PD1 are relatively early stage.

Earnings Performance

Non-GAAP net loss of $0.34 per share in Q2 was $0.01 worse than forecast.

Revenue Performance

Q1 net revenue of $40MM was below our $55MM forecast.

Coherus Biosciences Business Overview & Revenue Model

Company Description

Coherus BioSciences, Inc., a biopharmaceutical company, focuses on the biosimilar and immuno-oncology market primarily in the United States. The company markets UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte stimulating colony factor in the United States. Its pipeline products include biosimilars of Humira, Avastin, and Lucentis. The company also develops Toripalimab, a novel anti-PD-1 antibody for second-line treatment of melanoma in China; Bevacizumab biosimilar; and CHS-1420, an anti-TNF product candidate, as an adalimumab biosimilar; Ranibizumab biosimilar. Coherus BioSciences, Inc. has license agreements with Selexis SA; AbbVie, Inc.; Pfizer, Inc.; Bioeq AG; Innovent Biologics (Suzhou) Co., Ltd.; and Junshi Biosciences. The company was formerly known as BioGenerics, Inc. and changed its name to Coherus BioSciences, Inc. in April 2012. Coherus BioSciences, Inc. was incorporated in 2010 and is headquartered in Redwood City, California.

How the Company Makes Money

Coherus Biosciences generates revenue primarily through the sale of its biosimilar products. The company has established key partnerships with other pharmaceutical companies to enhance its research and development capabilities and expand its market reach. Significant revenue streams include product sales from its approved biosimilars, royalties from collaborations, and potential milestone payments associated with its pipeline products. Additionally, the company may benefit from expanding its portfolio of biosimilars as it seeks to capture market share in the growing biosimilars market, which is driven by increasing demand for cost-effective biologic therapies.

Coherus Biosciences Financial Statement Overview

Summary

Coherus Biosciences faces substantial financial challenges with declining revenues, persistent losses, and high leverage. The negative equity position and reliance on financing highlight potential risks. Improvement in operational performance and financial stability is critical for future growth.

Income Statement

The income statement reveals significant challenges for Coherus Biosciences, with declining revenue and consistent net losses over the periods. The TTM data shows negative margins across gross profit, EBIT, and EBITDA, indicating profitability issues. Revenue growth is negative, reflecting a downward trend in sales.

Balance Sheet

The balance sheet indicates high financial leverage with a negative stockholders' equity, suggesting insolvency risks. The debt-to-equity ratio is not calculable due to negative equity, and the equity ratio is negative, underscoring financial instability. Overall, the balance sheet reflects potential risks due to high liabilities.

Cash Flow

Cash flow analysis shows limited operational cash generation with a marginally positive free cash flow in the TTM period. However, historical data reflects negative operating and free cash flows, indicating reliance on external financing. The operating cash flow to net income ratio is unfavorable, suggesting inefficiencies in cash conversion.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	142.77M	266.96M	257.24M	211.04M	326.55M	475.82M
Gross Profit	81.11M	149.41M	98.25M	140.96M	268.96M	438.16M
EBITDA	-137.84M	60.94M	-193.94M	-255.58M	-260.69M	161.84M
Net Income	179.75M	28.51M	-237.89M	-291.75M	-287.10M	132.24M
Balance Sheet
Total Assets	439.46M	448.53M	629.60M	480.85M	679.33M	841.65M
Cash, Cash Equivalents and Short-Term Investments	237.64M	125.99M	117.75M	191.68M	417.19M	541.16M
Total Debt	2.41M	269.90M	480.84M	480.42M	419.02M	417.10M
Total Liabilities	319.64M	580.52M	823.03M	618.26M	581.61M	560.67M
Stockholders Equity	119.83M	-131.99M	-193.43M	-137.42M	97.73M	280.97M
Cash Flow
Free Cash Flow	-105.87M	-20.44M	-175.17M	-243.16M	-38.72M	147.09M
Operating Cash Flow	-105.87M	-20.44M	-174.88M	-241.12M	-37.43M	154.15M
Investing Cash Flow	445.05M	230.32M	144.64M	-166.85M	-138.41M	-14.40M
Financing Cash Flow	-281.72M	-186.97M	69.60M	54.33M	51.88M	223.95M

Coherus Biosciences Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.29
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 1.29 is above the 20-day moving average (MA) of 1.10, above the 50-day MA of 0.97, and above the 200-day MA of 1.06, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 69.57 is Neutral, neither overbought nor oversold. The STOCH value of 78.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CHRS.

Coherus Biosciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.92B	-0.43	-41.67%	2.21%	22.29%	-1.85%
CHRS	50 Neutral	$152.26M	5.55	-860.65%	―	-53.67%	-330.15%
SLS	43 Neutral	$187.43M	―	-180.71%	―	―	64.43%
XBIT	―	$90.85M	―	-15.23%	―	―	―
GNLX	54 Neutral	$131.45M	―	-98.72%	―	-100.00%	11.41%
NAUT	41 Neutral	$82.33M	―	-31.55%	―	―	6.27%
TIL	34 Underperform	$204.68M	―	-51.74%	―	―	29.72%

Coherus Biosciences Corporate Events

Coherus Biosciences Receives Nasdaq Deficiency Notice

On June 30, 2025, Coherus Oncology, Inc. received a deficiency notice from Nasdaq due to its stock price falling below $1.00 for 30 consecutive business days, which is below the required minimum for continued listing. The company has until December 29, 2025, to regain compliance by maintaining a minimum closing bid price of $1.00 per share for 10 consecutive business days. If Coherus fails to meet this requirement, it may seek an additional compliance period or face potential delisting, with options to appeal any delisting determination.

Coherus Biosciences Holds Virtual Annual Stockholder Meeting

On June 11, 2025, Coherus Oncology, Inc. held its Annual Meeting of Stockholders virtually, where various proposals were voted on. The stockholders elected three Class II directors, ratified Ernst & Young LLP as the company’s accounting firm, approved executive compensation, and amended the 2014 Employee Stock Purchase Plan.