Long Position on CHRS @ $21.88 on 8/30/2019 (Momentum)

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, Crohn’s 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 formed a bullish "cup and handle" and are expected to break higher from this formation.

52-Weeks Trading Range: $8.32 to $23.43

Entry Point: $21.88

Stop Loss: $20.80

Target Price: $24.10

Updates

10/28/2019 1:29:53 PM

CHRS closed

Position closed on 10/28/2019 at price of $17.00 with a -22.30% loss in 59 days.

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