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Coherus BioSciences, Inc. (CHRS) is a late-stage clinical biologics platform company.
The company focuses on developing and commercializing biosimilar products worldwide.
The company's product candidates include CHS-1701, a pegfilgrastim biosimilar candidate, which is used for the treatment of febrile neutropenia; CHS-0214, an etanercept biosimilar candidate, which is in various phases of clinical trials for the treatment of ankylosing spondylitis, juvenile idiopathic arthritis, psoriatic arthritis, rheumatoid arthritis, and psoriasis; and CHS-5217, a bevacizumab biosimilar candidate, which is in preclinical stage for the treatment of metastatic colorectal cancer, non-small cell lung cancer, metastatic kidney cancer, advanced cervical cancer, platinum-resistant ovarian cancer, and recurrent glioblastoma.
Its product candidates also comprise CHS-1420, an adalimumab biosimilar candidate, which is in various phases of clinical trials to treat ankylosing spondylitis, Behçet's Disease, Crohns Disease, juvenile idiopathic arthritis, psoriasis, psoriatic arthritis, rheumatoid arthritis, and ulcerative colitis; and CHS-3351, a ranibizumab biosimilar candidate, which is in preclinical stage for the treatment of neovascular (wet) age-related macular, degeneration, macular edema following retinal vein occlusion, diabetic macular edema, and diabetic retinopathy.
Coherus Biosciences, Inc. has license agreement with Daiichi Sankyo Company, Limited; Baxalta Incorporated, Baxalta US Inc., and Baxalta GmbH; Genentech, Inc.; and Selexis SA.
Shares have broken out of a bullish "flag" that shares had formed following its latest earnings report. Shares rose yesterday 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. Citi sees $4 to $8 per share upside for Coherus Biosciences following the ruling while Maxim raised its price target on Coherus shares to $44. Higher share prices are expected for this stock.
52-Weeks Trading Range: $14.00 - $31.98
Entry Point: $24.00
Stop Loss: $22.80
Target Price: $26.40
CHRS closed at $15.00
