Coherus Biosciences (CHRS)
NASDAQ:CHRS
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Coherus Biosciences
(NASDAQ:CHRS)
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Rating:50Neutral
Price Target:
$1.50
▼(-24.24% Downside)
Action:Reiterated
Date:05/14/26
The score is primarily constrained by weak financial performance (large losses and substantial cash burn), partially offset by a de-risked balance sheet and a generally constructive earnings call highlighting strong LOQTORZI growth and pipeline progress. Technicals are neutral and valuation is limited by ongoing losses and no dividend.
Positive Factors
LOQTORZI commercial momentum
Sustained LOQTORZI adoption (61% YoY growth, record new patient starts, rising treatment duration and broader account penetration) indicates durable commercial traction. This supports recurring revenue growth and scale economics over 2–3 years if management meets ramp targets and payer access holds.
Negative Factors
High cash burn and negative operating cash flow
Persistent, large negative operating and free cash flow (~-$170M TTM) implies ongoing dependence on external financing or asset monetization. If clinical timelines slip or multiple programs require concurrent spend, financing needs could rise, heightening dilution risk and constraining strategic flexibility over the next 2–3 years.
Read all positive and negative factors
Positive Factors
Negative Factors
LOQTORZI commercial momentum
Sustained LOQTORZI adoption (61% YoY growth, record new patient starts, rising treatment duration and broader account penetration) indicates durable commercial traction. This supports recurring revenue growth and scale economics over 2–3 years if management meets ramp targets and payer access holds.
Read all positive factors
Coherus Biosciences (CHRS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$256.05M
Dividend YieldN/A
Average Volume (3M)1.33M
Price to Earnings (P/E)―
Beta (1Y)1.29
Revenue Growth-76.26%
EPS Growth-9.93%
CountryUS
Employees228
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.28
Shares Outstanding154,249,900
10 Day Avg. Volume1,452,868
30 Day Avg. Volume1,328,227
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 Cap0.55
Enterprise Value/Revenue3.01
Enterprise Value/Gross Profit5.01
Enterprise Value/Ebitda-0.85
Forecast
1Y Price Target
$8.25Price Target Upside316.67% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.96
Revenue Forecast (FY)$73.41M
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:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive operational and clinical picture: robust year-over-year LOQTORZI revenue growth (61% YoY), record new patient starts, fully enrolled randomized HCC study, multiple tagmokitug cohorts actively accruing, and a $54M capital raise that strengthens liquidity. These achievements are tempered by near-term seasonality and weather-related revenue disruption, mixed external CCR8-class data that increase binary risk for tagmokitug, and the need for longer follow-up to demonstrate durability and survival for regulatory endpoints. Cost control and expense reductions improve runway, but modest cash depletion and the potential for multiple concurrent development needs remain monitoring items. Overall, the highlights (strong sales growth, pipeline progress, funded trials) outweigh the lowlights (Q1 weather impact, CCR8-class uncertainty, and data maturity concerns).Positive Updates
Strong Year-over-Year Sales Growth for LOQTORZI
LOQTORZI net sales increased 61% versus Q1 2025 with Q1 2026 net sales of $11.8M (down modestly QoQ from $12.4M in Q4 2025, a ~4.8% quarter-over-quarter decline attributed to seasonality and weather). Management forecasts ramp targets of ~$15M/quarter in 2026, $30–35M/quarter in 2027 and a peak market share of ~$44M/quarter (~$175M/year) by 2028.
Negative Updates
Q1 Seasonal and Weather-Driven Revenue Headwind
LOQTORZI revenue declined from $12.4M in Q4 2025 to $11.8M in Q1 2026 (~4.8% QoQ decline). Company analysis of an 85-product oncology basket showed a typical historical Q4→Q1 decline of ~5%, but in 2026 the basket fell ~10%, attributed to severe winter storms that caused many patients on 2- and 3-week cycles to miss cycles and lose revenue for that period.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Year-over-Year Sales Growth for LOQTORZI
LOQTORZI net sales increased 61% versus Q1 2025 with Q1 2026 net sales of $11.8M (down modestly QoQ from $12.4M in Q4 2025, a ~4.8% quarter-over-quarter decline attributed to seasonality and weather). Management forecasts ramp targets of ~$15M/quarter in 2026, $30–35M/quarter in 2027 and a peak market share of ~$44M/quarter (~$175M/year) by 2028.
Read all positive updates
Company Guidance
The company reiterated revenue and demand guidance for LOQTORZI, targeting roughly $15 million per quarter sometime in 2026, $30–35 million per quarter sometime in 2027 and a peak of about $44 million per quarter (≈$175 million annually) by 2028, and forecasting 10–15% average demand growth per quarter across 2026; Q1 net sales were $11.8 million (up 61% YoY vs Q1 2025, and compared with $12.4M in Q4 2025), new patient starts hit an all‑time high, breadth and depth of ordering accounts rose 21% and treatment duration is increasing quarter‑over‑quarter despite a larger than normal Q4→Q1 seasonal decline (historical basket −5% vs −10% in 2026) attributed to severe winter storms. Financially, cash, cash equivalents and investments were $167 million (down from $172.1M), the follow‑on equity raise added $54M net proceeds, R&D was $21.5M and SG&A $23.1M in Q1, the company says it is funded through key 2026–2027 readouts and will provide full‑year 2026 revenue guidance in August.Coherus Biosciences Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
58
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 46.88M | 42.17M | 266.96M | 257.24M | 211.04M | 326.55M |
| Gross Profit | 28.15M | 24.43M | 149.41M | 98.25M | 140.96M | 268.96M |
| EBITDA | -165.99M | -175.61M | 60.94M | -193.94M | -255.58M | -260.69M |
| Net Income | -151.66M | -170.29M | 28.51M | -237.89M | -291.75M | -287.10M |
Balance Sheet | ||||||
| Total Assets | 266.02M | 258.34M | 448.53M | 629.60M | 480.85M | 679.33M |
| Cash, Cash Equivalents and Short-Term Investments | 167.05M | 172.13M | 125.99M | 117.75M | 191.68M | 417.19M |
| Total Debt | 54.37M | 40.34M | 269.90M | 480.84M | 480.42M | 419.02M |
| Total Liabilities | 187.40M | 197.33M | 580.52M | 823.03M | 618.26M | 581.61M |
| Stockholders Equity | 78.62M | 61.01M | -131.99M | -193.43M | -137.42M | 97.73M |
Cash Flow | ||||||
| Free Cash Flow | -170.57M | -138.51M | -20.44M | -175.17M | -243.16M | -38.72M |
| Operating Cash Flow | -170.57M | -138.51M | -20.44M | -174.88M | -241.12M | -37.43M |
| Investing Cash Flow | 423.23M | 375.09M | 230.32M | 144.64M | -166.85M | -138.41M |
| Financing Cash Flow | -219.85M | -273.70M | -186.97M | 69.60M | 54.33M | 51.88M |
Coherus Biosciences Technical Analysis
Negative
1.98
Price Trends
1.71
Negative
1.76
Negative
1.58
Positive
Market Momentum
-0.04
Negative
44.09
Neutral
63.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CHRS, the sentiment is Negative. The current price of 1.98 is above the 20-day moving average (MA) of 1.67, above the 50-day MA of 1.71, and above the 200-day MA of 1.58, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 44.09 is Neutral, neither overbought nor oversold. The STOCH value of 63.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | $170.81M | 10.94 | 28.10% | ― | 27.80% | 268.45% | |
56 Neutral | $1.60B | -53.75 | -47.12% | ― | ― | 41.60% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $168.65M | -2.79 | 593.93% | ― | -77.09% | 6.91% | |
50 Neutral | $256.05M | -1.48 | -174.71% | ― | -76.26% | -9.93% | |
43 Neutral | $73.89M | -1.55 | -127.30% | ― | ― | 49.74% |
* Healthcare Sector Average
CHRS
Coherus Biosciences
1.59
0.81
104.11%
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444.44%
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MCRB
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7.32
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IPHA
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1.83
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-16.44%
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...
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.