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CHRS

Coherus Biosciences

$20.65

-2.05 (-9.03%)

, MYL

Mylan

$40.09

0.38 (0.96%)

08:30
06/12/17
06/12
08:30
06/12/17
08:30

Citi says CRL for Coherus not worst case scenario

Citi analyst Mohit Bansal says Coherus Biosciences' (CHRS) complete response letter for its biosimilar version of Neulasta, while "clearly a negative outcome," is not the worst case scenario since the FDA did not ask for another study. The analyst sees a one year delay, which impacts his discounted free cash flow model by $5 per share. Coherus in premarket trading is down 30%, or $6.25, to $14.40. A one year delay would mean Coherus' CHS-1701 could still be on markets at the same time as competition from Mylan (MYL) and ahead of Sandoz's approval in 2019, Bansal tells investors in a research note. The analyst has a Buy rating on Coherus with a $38 price target.

CHRS

Coherus Biosciences

$20.65

-2.05 (-9.03%)

MYL

Mylan

$40.09

0.38 (0.96%)

  • 12

    Jun

  • 03

    Sep

  • 09

    Oct

CHRS Coherus Biosciences
$20.65

-2.05 (-9.03%)

05/17/17
MAXM
05/17/17
NO CHANGE
Target $44
MAXM
Buy
Coherus could beat Humira competitors to market by 4 years, says Maxim
Maxim analyst Jason McCarthy said the invalidation of AbbVie's (ABBV) dosing patent for Humira is a "major victory" for Coherus Biosciences (CHRS) that has reduced its risk profile. The last IP hurdle to launching a Humira biosimilar is formulation, where Coherus has the advantage, said McCarthy, who believes the company could be first to market with a biosimilar by late 2018, which would be four years or more ahead of its competition. He raised his price target on Coherus shares to $44 from $43 and keeps a Buy rating on the stock, which is up $1.95, or 8.8%, to $24 in pre-market trading.
05/17/17
SBSH
05/17/17
NO CHANGE
Target $38
SBSH
Buy
Citi sees up to $8/share upside for Coherus on patent win
Citi analyst Mohit Bansal sees $4 to $8 per share upside for Coherus Biosciences (CHRS) after the Patent Trial and Appeal Board ruled in favor of the company's petitions for Inter Partes Review of AbbVie's (ABBV) '135 Patent. The stock in premarket trading is up 9%, or $1.95, to $24.00. The win makes a Humira biosimilar launch from Coherus more realistic, Bansal tells investors in a research note. Further, he believes the news makes an anti-TNF franchise partnership for Coherus with big bio-pharma more likely. He thinks a deal could be announced in the second half of 2017. Bansal keeps a Buy rating on Coherus with a $38 price target.
05/15/17
MAXM
05/15/17
NO CHANGE
Target $43
MAXM
Buy
Maxim sees probability of Humira patent ruling favoring Coherus
Maxim analyst Jason McCarthy said if Amgen's (AMGN) '135 patent for Humira is invalidated on May 17, Coherus Biosciences (CHRS) could potentially launch CHS-1420, its proposed biosimilar of adalimumab, in 2018, four years before others competing to launch a Humira biosimilar. He believes the probability favors Coherus, citing the fact that the company's focus on developing biosimilars is based on IP first. Coherus will need to raise capital again, but the outcome of the Humira patent decision and the upcoming approval decision for Neulasta on June 9 will determine at what valuation, said McCarthy, who has a Buy rating and $43 price target on Coherus shares.
05/05/17
05/05/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Snap (SNAP) initiated with a Buy at Cleveland Research. 2. Versartis (VSAR) initiated with an Overweight at Cantor. 3. Alder Biopharmaceuticals (ALDR) initiated with a Sell at UBS. 4. Playa Hotels & Resorts (PLYA) initiated with a Neutral at Citi. 5. Coherus Biosciences (CHRS) initiated with an Outperform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
MYL Mylan
$40.09

0.38 (0.96%)

05/31/17
WELS
05/31/17
NO CHANGE
WELS
Market Perform
Pension fund campaign a short-term negative for Mylan, says Wells Fargo
Wells Fargo analyst David Maris believes the campaign by four major pension funds to oppose the re-election of six directors is short-term negative for Mylan but has the potential to be a longer term positive. The campaign may pose a distraction to management, but if successful, it could address some governance concerns regarding compensation and performance at the company, Maris tells investors in a research note. The analyst has a Market Perform rating on Mylan shares.
05/22/17
LEHM
05/22/17
UPGRADE
Target $50
LEHM
Overweight
Mylan upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Douglas Tsao upgraded Mylan (MYL) to Overweight saying the chances of the company winning approval for its generic version of Copaxone this year are better than current market expectations. The approval come as soon as next month, Tsao tells investors in a research note. The analyst coupled the upgrade with a downgrade of Copaxone maker Momenta Pharmaceuticals to Equal Weight. The selloff in Mylan following the Q1 disclosure of deficiencies to Advair create a buying opportunity, the analyst contends. He raised his price target for the shares to $50 from $47. Mylan closed Friday down 21c to $37.94.
05/22/17
LEHM
05/22/17
DOWNGRADE
Target $17
LEHM
Equal Weight
Momenta downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Douglas Tsao downgraded Momenta Pharmaceuticals (MNTA) to Equal Weight citing the likelihood of generic manufacturers, most notably Mylan (MYL), winning approval for generic Copaxone in the coming months. The approvals could come before Momenta and its partner Sandoz win approval themselves for the 40mg dose, Tsao tells investors in a research note. He lowered his price target for the shares to $17 from $20.
05/10/17
WELS
05/10/17
NO CHANGE
Target $40
WELS
Market Perform
Mylan deals masking 'weak' organic sales, says Wells Fargo
Wells Fargo analyst David Maris believes Mylan's deals are masking the company's contracting organic growth. When excluding deals, Mylan's total third party sales declined approximately 4% in Q1, with North American Sales down 11%, Europe down 1% and Rest of World up 11%, Maris tells investors in a post-earnings research note. He believes Mylan this morning reported an essentially in-line quarter on earnings, but that organic sales were "weak," particularly in North America. Maris has a Market Perform rating on Mylan with a $40 price target.

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$35.06

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SVM

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CEL

Cellcom Israel

$10.00

-0.1 (-0.99%)

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GASS

StealthGas

$4.07

0.36 (9.70%)

07:06
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CPRT

Copart

$41.01

4.31 (11.74%)

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  • 19

    Dec

DE

Deere

$145.25

6.02 (4.32%)

06:56
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  • 28

    Nov

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$145.25

6.02 (4.32%)

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SECO

Seeco Holding

$8.34

0.14 (1.71%)

04:55
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BASFY

BASF

$27.39

-0.13 (-0.47%)

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RBS

RBS

$7.30

-0.04 (-0.54%)

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