Credit Suisse analyst Alethia Young lowered her price target on Coherus Biosciences to $24 from $38, stating that there is greater risk around the development path for its Neulasta biosimilar after the FDA's complete response letter. Young reiterates that she is "cautiously optimistic" the company can address issues over the next six months, though that makes this time period critical for CHS-1701. For now, she has decreased her probability of success for CHRS-1701 to 65% from 90% in U.S. and Europe, though she keeps an Outperform rating on Coherus shares.