Credit Suisse Issues a Buy Rating on Coherus Biosciences

By Ryan Adsit

Credit Suisse analyst Alethia Young maintained a Buy rating on Coherus Biosciences (NASDAQ: CHRS) on April 19 and set a price target of $38. The company’s shares closed yesterday at $18.75.

According to TipRanks.com, Young is a 1-star analyst with an average return of -0.6% and a 41.9% success rate. Young covers the Healthcare sector, focusing on stocks such as Achillion Pharmaceuticals, Ionis Pharmaceuticals Inc, and Alexion Pharmaceuticals.

Coherus Biosciences has an analyst consensus of Strong Buy.

Based on Coherus Biosciences’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $844K and GAAP net loss of $75.92 million. In comparison, last year the company earned revenue of $12.36 million and had a GAAP net loss of $65.39 million.

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Coherus BioSciences, Inc. is a late-stage clinical biologics platform company, which engages in the development and commercializition of biosimilar therapeutics worldwide. It focuses on global biosimilar market. The company was founded by Dennis M. Lanfear, Stuart E. Builder, Dr. Alan Herman, Doug Farrar, and Steve Glover in September 2010 and is headquartered in Redwood City, CA.