Baird Starts Coherus Biosciences (CHRS) at Outperform
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Baird initiates coverage on Coherus Biosciences (NASDAQ: CHRS) with a Outperform rating and a price target of $40.00.
Analyst Michael Ulz commented, "We view Coherus as a potential leader in the biosimilar space with an experienced management team and differentiated legal strategy. Coherus boasts a robust late-stage biosimilar pipeline, including CHS-1701 (Neulasta biosimilar) under regulatory review, CHS-1420 (Humira biosimilar) in Phase 3, and CHS-0214 (Enbrel biosimilar) filing early next year in Europe. We expect numerous meaningful catalysts ahead to drive further upside, culminating in the launch of its first biosimilar product in 2018."
Shares of Coherus Biosciences closed at $28.88 yesterday.
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