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CHRS

Coherus Biosciences

$20.65

-2.05 (-9.03%)

10:56
06/12/17
06/12
10:56
06/12/17
10:56

Credit Suisse 'cautiously optimistic' on timelines laid out by Coherus

Credit Suisse analyst Alethia Young reiterates her previous belief that shares of Coherus Biosciences could trade to $12-$15 based on a complete response letter scenario. The CRL news today is not worst case, however, as there were not major issues like running wrong clinical studies, manufacturing and fill-finish, Young tells investors in a research note. The analyst believes approval of CHS-1701 remains the catalyst for Coherus. This means the key catalyst is likely shifted until mid or second half of 2018. Young writes. The analyst is "cautiously optimistic" on the timelines laid out by management and keeps an Outperform rating on the shares. The stock in morning trading is down 27% to $15.07.

  • 12

    Jun

CHRS Coherus Biosciences
$20.65

-2.05 (-9.03%)

06/12/17
STPT
06/12/17
NO CHANGE
STPT
Buy
Coherus Biosciences selloff an overreaction, says Standpoint Research
Standpoint Research analyst Ronnie Moas views this morning's selloff in shares of Coherus Biosciences as an overreaction. The analyst maintains a Buy rating on the name but pushed out his $40 price target to 2019 from 2018 following the company's complete response letter from the FDA. The FDA has "merely requested" additional information, which Coherus can provide, Moas tells investors in an email after listening to the company's conference call. The stock in premarket trading is down 30%, or $6.26, to $14.39.
06/12/17
SBSH
06/12/17
NO CHANGE
Target $38
SBSH
Buy
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.
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.

TODAY'S FREE FLY STORIES

SPN

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BABA

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AMZN

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BIVV

Bioverativ

$50.76

-5.35 (-9.53%)

, RHHBY

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$30.82

1.72 (5.91%)

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Recommendations
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RHHBY

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CUBI

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$27.04

0.28 (1.05%)

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T

AT&T

$34.64

0.13 (0.38%)

, TWX

Time Warner

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NGD

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IMI

Intermolecular

$1.31

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CMCSA

Comcast

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MLNX

Mellanox

$51.05

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PLNT

Planet Fitness

$30.15

0.07 (0.23%)

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TER

Teradyne

$44.43

0.86 (1.97%)

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Downgrade
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CBS

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$55.93

-0.81 (-1.43%)

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Periodicals
CBS News suspends Charlie Rose following sexual harassment claims, AP says 

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CBS

CBS

$55.93

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MLNX

Mellanox

$51.05

1 (2.00%)

, MRVL

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$21.59

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CDXS

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T

AT&T

$34.64

0.13 (0.38%)

, TWX

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  • 29

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BBY

Best Buy

$56.35

0.52 (0.93%)

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RELY

Real Industry

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