Coherus BioSciences Stock (NASDAQ:CHRS), Trade Ideas

Coherus BioSciences

Coherus BioSciences Inc is a commercial-stage biopharmaceutical company building an immuno-oncology franchise funded with cash generated by its diversified portfolio of FDA-approved therapeutics. The company is focused on the research, development, and commercialization of its portfolio of FDA-approved oncology products, including LOQTORZI. The company markets UDENYCA, a biosimilar of Neulasta in the United States, and expects to launch the FDA-approved Humira biosimilar YUSIMRY in the United States in 2023. The company generates revenue from the United States.

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Shares of CommScope Holding Company, Inc. (NASDAQ: COMM) fell sharply during Monday’s session.

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CommScope shares dipped 6.9% to $2.2150 on Monday.

Why CommScope Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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Coherus BioSciences agreed to sell its ophthalmology franchise for $170M to Sandoz. This aligns with CHRS&#39; focus on oncology and will help reduce debt and overhead costs.

Why Is Cancer Immunotherapy Focused-Coherus BioSciences Stock Trading Higher Today?

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Shares of  Coherus BioSciences, Inc. (NASDAQ: CHRS) shares rose sharply in today’s pre-market trading after the company announced an agreement to divest ophthalmology franchise to Sandoz in $170 million upfront all cash deal.

Why Coherus BioSciences Shares Are Trading Higher By 22%; Here Are 20 Stocks Moving Premarket

Coherus BioSciences Inc

– In preclinical studies, CHS-1000 shows a high affinity for human ILT4, reverses ILT4-mediated immunosuppressive functions, leading to activation of immune cells and increased cytokine secretion – – Mechanism may enhance antitumor responses with immunotherapy – – First novel immuno-oncology product candidate discovered and developed by Coherus – – The CHS-1000 IND submission is planned for Q2 2024 –
REDWOOD CITY, Calif., April 08, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. ((Coherus, NASDAQ:<a href="https://www.benzinga.com/stock/CHRS#NASDAQ">CHRS</a>), today presented preclinical data for its immuno-oncology pipeline candidate, CHS-1000, a novel ILT4 monoclonal antibody, at the 2024 AACR Annual Meeting being held in San Diego, California. Data presented show CHS-1000 is a potent monoclonal antibody that binds selectively to human ILT4 (also known as LILRB2) with high affinity, efficiently blocking interaction with its ligands and reversing immunosuppressive functions, leading to activation of human dendritic cells and T cells and promoting polarization of macrophages to an inflammatory M1 phenotype.
"Myeloid cell-mediated immunosuppression in the tumor microenvironment is a major contributor to tumor immune invasion and PD-1 resistance. The data presented in this poster demonstrate the potential for CHS-1000 to reverse myeloid suppression and activate an inflammatory immune response. Reprogramming myeloid cells in the tumor microenvironment holds promise as a new immuno-therapy approach with the aim to overcome resistance to I-O therapy and potentially provide benefit to more cancer patients," said Theresa LaVallee, Ph.D., Chief Development Officer at Coherus. "CHS-1000 is our first internally discovered development candidate, and we are excited to be filing the IND this quarter. We plan to advance CHS-1000 into the clinic both as a single agent and in combination with LOQTORZI&#xAE;."
These data will be presented today in a poster session, and the poster will be available for download at the time of the presentation:
Abstract: 1364/15 Title: <a href="https://www.globenewswire.com/Tracker?data=b-uQ9Bkof9Sji0aB982AtyOYvcv5Xl-9Bg9u2FJd0Z1liW4GB5t0Qgq2Ep1KWsfekasaWY-N33KqwYrlBZtQxusWWKPTiS-GA0mwE7o2RvwYkQg0uXBMa9gl8RdlqFqrV0THxMh1zr2rspAeYvllpvOG6lwLFIVSKQqQWd4DGjecPUH8-DUNb2WvexstyaFmngapN03lg6fyasDGuts65XpKVosuEY8LcQlbErxzHf8tVk_AeFQzQy_1mf9ijcO8Rf11betnAxEADYdPYqkyl5D_0CrjbVV2XycAXZ-ifLk=">Characterization of CHS-1000, an Fc-modified anti-ILT4 monoclonal antibody for reprogramming suppressive myeloid cells in solid tumors</a> Presenting author: Narendiran Rajasekaran, Ph.D. Session PO.IM01.02 – Immune Checkpoints and Inhibitory Molecules 1 Date and Time: Monday, April 8, 2024, 9:00 a.m. – 12:30 p.m. Pacific Daylight Time
Poster data are summarized as follows:
<ul>
<li>CHS-1000 binds specifically and selectively to human ILT4 (LILRB2) with high affinity and showed no cross-reactivity to other LILRB family members.</li>
<li>CHS-1000 efficiently blocks the interaction of ILT4 with its ligands, HLA-A and HLA-G, and reverses ILT4-mediated immunosuppressive functions, leading to activation of M1 macrophages, dendritic cells, and T cells and increases in pro-inflammatory cytokine secretion in in vitro assays.</li>
<li>CHS-1000 is Fc silent and lacks effector function activity in in vitro assays consistent with the engineered modification of the Fc region of the antibody. It also has IgG1‑like PK parameters in human FcRn transgenic mice.
<ul>
<li>ILT4 and CD163, a marker of suppressive (M2) macrophages, are highly expressed in a broad range of solid tumors.</li>
</ul>
</li>
</ul>

Coherus Presents Preclinical Data For CHS-1000, A Novel Anti-ILT4 Antibody, At The 2024 AACR Annual Meeting

HC Wainwright &amp; Co. analyst Douglas Tsao maintains Coherus BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRS#NASDAQ">CHRS</a>) with a Buy and lowers the price target from $13 to $11.

Price Target

Analyst Ratings

HC Wainwright & Co. Maintains Buy on Coherus BioSciences, Lowers Price Target to $11

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Coherus BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRS#NASDAQ">CHRS</a>) with a Buy and maintains $13 price target.

Reiteration

HC Wainwright & Co. Reiterates Buy on Coherus BioSciences, Maintains $13 Price Target

WIIM

Coherus BioSciences shares are trading lower after the company reported worse-than-expected Q4 financial results.

Guidance

Coherus BioSciences Sees FY24 R&D And SG&A Expenses $250M-$265M

Coherus BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRS#NASDAQ">CHRS</a>) reported its Q4 earnings results on Wednesday, March 13, 2024 at 04:01 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Coherus BioSciences missed estimated earnings by -417.0%, reporting an EPS of $-0.62 versus an estimate of $-0.12.
Revenue was up $46.17 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.04 which was followed by a 30.0% drop in the share price the next day.
Here's a look at Coherus BioSciences's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.31</td>
<td>-0.52</td>
<td>-0.57</td>
<td>-0.84</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.27</td>
<td>-0.38</td>
<td>-0.75</td>
<td>-0.60</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>83.56M</td>
<td>50.83M</td>
<td>47.44M</td>
<td>51.22M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>74.57M</td>
<td>58.72M</td>
<td>32.44M</td>
<td>45.35M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Coherus BioSciences <a href="https://www.benzinga.com/quote/CHRS/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Recap: Coherus BioSciences Q4 Earnings

Coherus BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRS#NASDAQ">CHRS</a>) reported quarterly losses of $(0.62) per share which missed the analyst consensus estimate of $(0.12) by 416.67 percent. The company reported quarterly sales of $91.524 million which missed the analyst consensus estimate of $96.400 million by 5.06 percent. This is a 101.81 percent increase over sales of $45.352 million the same period last year.

Earnings Misses

Coherus BioSciences Q4 2023 Adj EPS $(0.62) Misses $(0.12) Estimate, Sales $91.524M Miss $96.400M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Sangamo Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) is likely to report quarterly loss at $0.26 per share on revenue of $8.10 million.
&bull; Silence Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLN#NASDAQ">SLN</a>) is expected to report earnings for its fourth quarter.
&bull; Optical Cable (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCC#NASDAQ">OCC</a>) is likely to report earnings for its first quarter.
&bull; Perma-Fix Envirn Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PESI#NASDAQ">PESI</a>) is likely to report quarterly earnings at $0.06 per share on revenue of $22.50 million.
&bull; Dollar Tree (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) is estimated to report quarterly earnings at $2.65 per share on revenue of $8.67 billion.
&bull; Magic Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) is expected to report quarterly earnings at $0.19 per share on revenue of $117.50 million.
&bull; Petco Health and Wellness (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>) is estimated to report quarterly earnings at $0.02 per share on revenue of $1.62 billion.
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&bull; Moolec Science (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLEC#NASDAQ">MLEC</a>) is likely to report quarterly loss at $0.07 per share on revenue of $600 thousand.
&bull; ADC Therapeutics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADCT#NYSE">ADCT</a>) is likely to report quarterly loss at $0.50 per share on revenue of $15.33 million.
&bull; Target Hospitality (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TH#NASDAQ">TH</a>) is expected to report quarterly earnings at $0.24 per share on revenue of $118.00 million.
&bull; iSpecimen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPC#NASDAQ">ISPC</a>) is expected to report quarterly loss at $0.24 per share on revenue of $3.04 million.
&bull; WideOpenWest (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOW#NYSE">WOW</a>) is projected to report quarterly loss at $0.01 per share on revenue of $170.57 million.
&bull; Tuniu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOUR#NASDAQ">TOUR</a>) is estimated to report earnings for its fourth quarter.
&bull; Arcos Dorados Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) is expected to report quarterly earnings at $0.31 per share on revenue of $1.15 billion.
&bull; ZIM Integrated Shipping (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) is estimated to report quarterly loss at $1.29 per share on revenue of $1.28 billion.
&bull; ProFrac Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACDC#NASDAQ">ACDC</a>) is projected to report quarterly earnings at $0.02 per share on revenue of $594.97 million.
&bull; Sharecare (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHCR#NASDAQ">SHCR</a>) is likely to report quarterly loss at $0.06 per share on revenue of $114.99 million.
&bull; Village Farms Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>) is likely to report quarterly loss at $0.02 per share on revenue of $69.79 million.
&bull; Vera Bradley (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRA#NASDAQ">VRA</a>) is likely to report quarterly earnings at $0.14 per share on revenue of $136.05 million.
&bull; Global Indemnity Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBLI#NYSE">GBLI</a>) is likely to report quarterly earnings at $0.54 per share on revenue of $141.00 million.
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&bull; i-80 Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IAUX#AMEX">IAUX</a>) is estimated to report earnings for its fourth quarter.
&bull; RCM Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCMT#NASDAQ">RCMT</a>) is expected to report quarterly earnings at $0.62 per share on revenue of $72.29 million.
&bull; Adams Resources &amp; Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/AE#AMEX">AE</a>) is projected to report quarterly loss at $0.08 per share on revenue of $678.36 million.
&bull; Coherus BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRS#NASDAQ">CHRS</a>) is projected to report quarterly loss at $0.12 per share on revenue of $96.40 million.
&bull; Profire Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFIE#NASDAQ">PFIE</a>) is estimated to report quarterly earnings at $0.04 per share on revenue of $14.61 million.
&bull; Jowell Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JWEL#NASDAQ">JWEL</a>) is projected to report quarterly earnings at $0.73 per share on revenue of $228.53 million.
&bull; MorphoSys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOR#NASDAQ">MOR</a>) is estimated to report quarterly earnings at $0.09 per share on revenue of $67.89 million.
&bull; North American (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOA#NYSE">NOA</a>) is likely to report quarterly earnings at $0.74 per share on revenue of $248.81 million.
&bull; Pangaea Logistics Solns (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANL#NASDAQ">PANL</a>) is expected to report quarterly earnings at $0.34 per share on revenue of $140.16 million.
&bull; Quoin Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QNRX#NASDAQ">QNRX</a>) is likely to report earnings for its fourth quarter.
&bull; VAALCO Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGY#NYSE">EGY</a>) is estimated to report quarterly earnings at $0.12 per share on revenue of $129.06 million.
&bull; SuRo Capital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSSS#NASDAQ">SSSS</a>) is projected to report quarterly loss at $0.14 per share on revenue of $1.10 million.
&bull; scPharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCPH#NASDAQ">SCPH</a>) is projected to report quarterly loss at $0.42 per share on revenue of $5.52 million.
&bull; NextNav (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NN#NASDAQ">NN</a>) is estimated to report quarterly loss at $0.14 per share on revenue of $1.19 million.
&bull; Hallador Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HNRG#NASDAQ">HNRG</a>) is projected to report quarterly earnings at $0.29 per share on revenue of $199.20 million.
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&bull; Fossil Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOSL#NASDAQ">FOSL</a>) is likely to report earnings for its fourth quarter.
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&bull; Limbach Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LMB#NASDAQ">LMB</a>) is estimated to report quarterly earnings at $0.40 per share on revenue of $129.37 million.
&bull; Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) is estimated to report quarterly earnings at $2.20 per share on revenue of $7.39 billion.
&bull; Superior Gr of Cos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGC#NASDAQ">SGC</a>) is projected to report quarterly earnings at $0.15 per share on revenue of $142.86 million.
&bull; Turtle Beach (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HEAR#NASDAQ">HEAR</a>) is estimated to report quarterly earnings at $0.60 per share on revenue of $111.60 million.
&bull; Cue Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLTH#NASDAQ">HLTH</a>) is likely to report quarterly loss at $0.44 per share on revenue of $17.68 million.
&bull; Navigator Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVGS#NYSE">NVGS</a>) is expected to report quarterly earnings at $0.30 per share on revenue of $130.76 million.
&bull; GrowGeneration (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRWG#NASDAQ">GRWG</a>) is likely to report quarterly loss at $0.13 per share on revenue of $45.52 million.
&bull; Anika Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANIK#NASDAQ">ANIK</a>) is expected to report quarterly loss at $0.26 per share on revenue of $41.40 million.
&bull; FTC Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTCI#NASDAQ">FTCI</a>) is estimated to report quarterly loss at $0.07 per share on revenue of $23.12 million.
&bull; BGSF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BGSF#NYSE">BGSF</a>) is estimated to report quarterly earnings at $0.08 per share on revenue of $75.05 million.
&bull; Boxlight (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOXL#NASDAQ">BOXL</a>) is expected to report quarterly loss at $0.63 per share on revenue of $36.55 million.
&bull; SentinelOne (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) is projected to report quarterly loss at $0.04 per share on revenue of $169.53 million.
&bull; Gold Resource (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GORO#AMEX">GORO</a>) is projected to report quarterly loss at $0.09 per share on revenue of $18.95 million.
&bull; Logan Ridge Finance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRFC#NASDAQ">LRFC</a>) is likely to report quarterly earnings at $0.50 per share on revenue of $5.00 million.
&bull; KORU Medical Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRMD#NASDAQ">KRMD</a>) is estimated to report quarterly loss at $0.04 per share on revenue of $6.94 million.
&bull; Portman Ridge Finance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTMN#NASDAQ">PTMN</a>) is likely to report quarterly earnings at $0.79 per share on revenue of $19.04 million.
&bull; ESS Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWH#NYSE">GWH</a>) is likely to report quarterly loss at $0.11 per share on revenue of $3.54 million.
&bull; UiPath (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) is estimated to report quarterly earnings at $0.16 per share on revenue of $383.83 million.
&bull; Vroom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRM#NASDAQ">VRM</a>) is projected to report quarterly loss at $29.60 per share on revenue of $232.00 million.
&bull; Ocean Power Techs (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/OPTT#AMEX">OPTT</a>) is projected to report earnings for its third quarter.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For March 13, 2024

Coherus BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRS#NASDAQ">CHRS</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-03-13. Here's what investors need to know before the announcement.
Analysts estimate that Coherus BioSciences will report an earnings per share (EPS) of $-0.12. 
Coherus BioSciences bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.04, which was followed by a 30.23% drop in the share price the next day.
Here's a look at Coherus BioSciences's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.31</td>
<td>-0.52</td>
<td>-0.57</td>
<td>-0.84</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.27</td>
<td>-0.38</td>
<td>-0.75</td>
<td>-0.60</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-30.0%</td>
<td>18.0%</td>
<td>-27.0%</td>
<td>8.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1710259238_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Coherus BioSciences were trading at $2.27 as of March 11. Over the last 52-week period, shares are down 63.34%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/CHRS/earnings">To track all earnings releases for Coherus BioSciences visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For Coherus BioSciences

– Innovative design enables five-minute pegfilgrastim-cbqv delivery time –
– Unique, automatic, retractable needle mechanism engineered to maximize safety and comfort for cancer patients receiving UDENYCA&#xAE; –

Coherus Launches UDENYCA ONBODY For Pegfilgrastim-cbqv

Baird analyst Colleen Kusy maintains Coherus BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRS#NASDAQ">CHRS</a>) with a Outperform and lowers the price target from $11 to $9.

Baird Maintains Outperform on Coherus BioSciences, Lowers Price Target to $9

Truist Securities analyst Robyn Karnauskas maintains Coherus BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRS#NASDAQ">CHRS</a>) with a Buy and lowers the price target from $12 to $8.

Truist Securities Maintains Buy on Coherus BioSciences, Lowers Price Target to $8-Report Released on  22 January 2024

Truist Securities Maintains Buy on Coherus BioSciences, Lowers Price Target to $8

Shares of CommScope Holding Company, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/comm#NASDAQ">COMM</a>) fell sharply during Monday&rsquo;s session.
B of A Securities analyst Tal Liani downgraded CommScope from Neutral to Underperform and lowered the price target from $2.1 to $2.
CommScope shares dipped 6.9% to $2.2150 on Monday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Sagimet Biosciences Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgmt#NASDAQ">SGMT</a>) shares jumped 135% to $15.99 after the company announced denifanstat in the Phase 2b FASCINATE-2 clinical trial achieved statistically significant results on the primary and multiple secondary endpoints.</li>
<li>Rail Vision Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rvsn#NASDAQ">RVSN</a>) surged 54.5% to $2.1173. Rail Vision said its main line system has successfully obtained formal certifications for critical European Union railway standards.</li>
<li>Tenaya Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tnya#NASDAQ">TNYA</a>) gained 40% to $5.36.</li>
<li>Bullfrog AI Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bfrg#NASDAQ">BFRG</a>) jumped 37% to $6.70.</li>
<li>Lytus Technologies Holdings PTV. Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lyt#NASDAQ">LYT</a>) surged 34.1% to $0.1376.</li>
<li>Fisker Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fsr#NYSE">FSR</a>) shares gained 32.4% to $1.0450. Fisker filed a Form 8-K with the Securities and Exchange Commission regarding amendments with its 2025 convertible notes investor.</li>
<li>Fitell Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftel#NASDAQ">FTEL</a>) gained 28.5% to $2.25.</li>
<li>Rumble Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rum#NASDAQ">RUM</a>) surged 25.6% to $4.51 after the company announced a partnership with Barstool Sports.</li>
<li>Eightco Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/octo#NASDAQ">OCTO</a>) jumped 24.9% to $0.5641.</li>
<li>Digital World Acquisition Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dwac#NASDAQ">DWAC</a>) rose 24% to $32.70 after Ron DeSantis ended his presidential campaign. Digital World Acquisition Corp is the business combination partner of Trump Media &amp; Technology Group.</li>
<li>Fresh2 Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fres#NASDAQ">FRES</a>) gained 22.5% to $0.4900.</li>
<li>Taoping Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/taop#NASDAQ">TAOP</a>) rose 21.3% to $1.0298.</li>
<li>Coherus BioSciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chrs#NASDAQ">CHRS</a>) shares climbed 17.1% to $2.8577 after the company announced an agreement to divest ophthalmology franchise to Sandoz in $170 million upfront all cash deal.</li>
<li>ChargePoint Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chpt#NYSE">CHPT</a>) rose 16.3% to $2.0250.</li>
<li>CXApp Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cxai#NASDAQ">CXAI</a>) gained 15% to $1.3098.</li>
<li>NuStar Energy L.P. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ns#NYSE">NS</a>) rose 14.2% to $20.59 after Sunoco announced it will acquire the company in an all-equity transaction valued at roughly $7.3 billion.</li>
<li>Upstart Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/upst#NASDAQ">UPST</a>) gained 13.3% to $37.06.</li>
<li>Spirit Airlines, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/save#NYSE">SAVE</a>) climbed 12.6% to $7.53 after the company and JetBlue Airways announced Friday that they will appeal a ruling blocking their proposed merger.</li>
<li>Affirm Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/afrm#NASDAQ">AFRM</a>) rose 11.3% to $46.98.</li>
<li>Fastly, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fsly#NYSE">FSLY</a>) gained 10.3% to $20.69 after Citigroup upgraded the stock from Sell to Neutral and raised its price target from $11 to $20.</li>
<li>Aclaris Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acrs#NASDAQ">ACRS</a>) gained 7% to $1.22. Aclaris Therapeutics recently announced leadership changes as the company undertakes a strategic review of its business.</li>
<li>Genius Group Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gns#NYSE">GNS</a>) shares gained 6.4% to $0.3110 after gaining around 9% on Friday. Genius Group recently announced closing of $8.25 million public offering.</li>
<li>StoneCo Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stne#NASDAQ">STNE</a>) rose 5.7% to $18.00. Goldman Sachs analyst Tito Labarta upgraded StoneCo from Neutral to Buy and raised the price target from $12 to $21.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Virios Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/viri#NASDAQ">VIRI</a>) shares fell 39.2% to $0.4928. Virios Therapeutics announced plans to advance development of IMC-2 as treatment for symptoms associated with long-COVID.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pcsa#NASDAQ">PCSA</a>) fell 30.9% to $3.11. Processa Pharmaceuticals recently announced plans to expand the development of Next Generation Capecitabine into the treatment of advanced or metastatic breast cancer.</li>
<li>Nuvve Holding Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvve#NASDAQ">NVVE</a>) fell 25.8% to $2.85. Nuvve recently announced a 1-for-40 reverse stock split.</li>
<li>Hongli Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hlp#NASDAQ">HLP</a>) dipped 25.7% to $2.45.</li>
<li>Agrify Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agfy#NASDAQ">AGFY</a>) shares fell 19.8% to $0.8495 after declining around 23% on Friday. Agrify recently entered into a multi-million dollar sales agreement with Ocean Deep/Golden Lake Business Park.</li>
<li>NexImmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nexi#NASDAQ">NEXI</a>) declined 19.4% to $5.64.</li>
<li>Archer-Daniels-Midland Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/adm#NYSE">ADM</a>) fell 19.1% to $55.17 amid the company placing its CFO on leave due to an investigation studying accounting practices and procedures related to the company&#39;s nutrition segment. ADM said it now expects an adjusted earnings per share of $6.90 for the fiscal year ended Dec. 2023.</li>
<li>Calidi Biotherapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cldi#NASDAQ">CLDI</a>) dipped 18% to $0.91</li>
<li>Treasure Global Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tgl#NASDAQ">TGL</a>) shares fell 17.2% to $0.0929 after gaining 9% on Friday.</li>
<li>MMTec, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mtc#NASDAQ">MTC</a>) fell 14.6% to $2.09.</li>
<li>Intelligent Bio Solutions Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/inbs#NASDAQ">INBS</a>) declined 13.4% to $0.2979. Intelligent Bio Solutions said that DGP Plc has selected the revolutionary portable intelligent fingerprinting drug screening system to enable in-house drug testing.</li>
<li>WiSA Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wisa#NASDAQ">WISA</a>) shares dipped 11.7% to $0.0940 after declining over 3% on Friday.</li>
<li>C3is Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ciss#NASDAQ">CISS</a>) fell 11.1% to $0.1202 after falling 6% on Wednesday. C3is shares dipped 64% on Friday after the company announced pricing of its $7 million upsized underwritten public offering.</li>
<li>Airspan Networks Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mimo#NASDAQ">MIMO</a>) declined 10.3% to $0.1895 after surging 24% on Friday. Airspan recently announced a partnership with GCT Semiconductor to develop an RF module.</li>
<li>B. Riley Financial, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rily#NASDAQ">RILY</a>) shares dipped 10.1% to $18.14. B. Riley Financial is reportedly facing a probe by U.S. authorities over its dealings with Brian Kahn, a key client linked to securities fraud, and the utilization of his assets to secure a loan from Nomura Holdings.</li>
<li>Gilead Sciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gild#NASDAQ">GILD</a>) fell 9.7% to $78.80 after the company reported its phase 3 study in metastatic non-small cell lung cancer did not meet primary endpoints.</li>
<li>e.l.f. Beauty, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/elf#NYSE">ELF</a>) declined 6.5% to $147.62. Morgan Stanley analyst Dara Mohsenian downgraded e.l.f. Beauty from Overweight to Equal-Weight and raised the price target from $137 to $168.</li>
<li>Worthington Enterprises, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wor#NYSE">WOR</a>) fell 5% to $52.47. Goldman Sachs analyst Susan Maklari initiated coverage on Worthington Enterprises with a Sell rating and announced price target of $50.</li>
</ul>
&nbsp;
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Why CommScope Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Monday's Mid-Day Session

Coherus BioSciences Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRS#NASDAQ">CHRS</a>) shares are trading higher after the company agreed to divest its Cimerli ophthalmology franchise to&nbsp;Sandoz Group AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SDZNY#OTC">SDZNY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SDZXF#OTC">SDZXF</a>) for $170 million plus an&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/01/g36710947/coherus-announces-agreement-to-divest-ophthalmology-franchise-to-sandoz-in-170-million-upfront-all" rel="noreferrer noopener">additional amount for inventory</a>.
This divestiture aligns with Coherus&#8217; strategic focus on oncology, and includes Coherus&#8217; Cimerli biologics license application, ophthalmology sales and select field reimbursement teams, Cimerli product inventory on hand, and access to proprietary commercial software.
&#8220;Since entering the ophthalmology market in 2022, we have gained strong market share and created significant value in a non-core therapeutic area by leveraging our buy-and-bill commercial expertise. We believe it is prudent to now monetize these non-core assets to pay down debt, reduce interest costs, and take the opportunity to focus on our core therapeutic area, oncology,&#8221; said Denny Lanfear, Chairman and Chief Executive Officer of Coherus. &#8220;Additionally, this divestiture will allow us to reduce our headcount and overhead costs, enhancing our sustainable and growing oncology business.&#8221;
Coherus&#8217; oncology assets include:
<ul>
<li>Udenyca (pegfilgrastim-cbqv) franchise, with three FDA-approved presentations. In December, the FDA approved Udenyca Onbody, the company&#8217;s on-body injector, a pegfilgrastim biosimilar administered the day after chemotherapy to decrease the incidence of infection as&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/23/12/g36390731/coherus-announces-fda-approval-of-udenyca-onbody-a-novel-and-proprietary-state-of-the-art-delivery" rel="noreferrer noopener">manifested by febrile neutropenia</a>.</li>
<li>&nbsp;Loqtorzi (toripalimab-tpzi), an FDA-approved, next-generation PD-1 inhibitor</li>
<li>&nbsp;An immuno-oncology pipeline.</li>
</ul>
The deal is expected to close in the first half of 2024.
Price Action: CHRS shares are up 13.7% at $2.7750 on the last check Monday.
Photo via Shutterstock

SGMT: 94% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/36712966">Sagimet Biosciences Announces Positive Topline Results from Phase 2b FASCINATE-2 Clinical Trial of Denifanstat in Biopsy-Confirmed F2/F3 NASH</a>
RVSN: 142% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/36713900">Rail Vision Says Its Main Line System Has Successfully Obtained Formal Certifications For Critical European Union Railway Standards</a>
CHRS: 33% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/36710947">Coherus Announces Agreement to Divest Ophthalmology Franchise to Sandoz in $170 Million Upfront All Cash Deal</a>
&nbsp;

Market-Moving News for January 22nd

Shares of Coherus BioSciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chrs#NASDAQ">CHRS</a>) shares rose sharply in today&rsquo;s pre-market trading after the company announced an agreement to divest ophthalmology franchise to Sandoz in $170 million upfront all cash deal.
Coherus BioSciences shares jumped 22.1% to $2.98 in pre-market trading
Here are some other stocks moving in pre-market trading.
<h3>Gainers</h3>
<ul>
<li>Northann Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ncl#NYSE">NCL</a>) shares jumped 19.9% to $1.63 in pre-market trading after jumping over 25% on Friday.</li>
<li>HNR Acquisition Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hnra#NYSE">HNRA</a>) gained 15.4% to $2.48 in pre-market trading.</li>
<li>Porch Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prch#NASDAQ">PRCH</a>) gained 15.4% to $2.55 in pre-market trading.</li>
<li>TC Biopharm (Holdings) Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcbp#NASDAQ">TCBP</a>) surged 15% to $2.69 in pre-market trading after gaining over 10% on Friday. TC BioPharm recently regained compliance with Nasdaq minimum bid price requirement.</li>
<li>Remark Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mark#NASDAQ">MARK</a>) shares climbed 12.7% to $0.4340 in pre-market trading after falling more than 10% on Friday.</li>
<li>Unicycive Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uncy#NASDAQ">UNCY</a>) shares gained 11.8% to $0.9690 in pre-market trading.</li>
<li>Aclaris Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acrs#NASDAQ">ACRS</a>) gained 10.5% to $1.26 in pre-market trading. Aclaris Therapeutics recently announced leadership changes as the company undertakes a strategic review of its business.</li>
<li>Genius Group Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gns#NYSE">GNS</a>) shares gained 9.4% to $0.3195 in pre-market trading after gaining around 9% on Friday. Genius Group recently announced closing of $8.25 million public offering.</li>
<li>Greenbrook TMS Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gbnh#NASDAQ">GBNH</a>) shares rose 8.9% to $0.2940 in pre-market trading. Greenbrook TMS raised $1.5 million in debt financing.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>B. Riley Financial, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rily#NASDAQ">RILY</a>) shares dipped 17.5% to $16.63 in pre-market trading. B. Riley Financial issued a statement in response to a Bloomberg news article published on Jan. 21, 2024.</li>
<li>Agrify Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agfy#NASDAQ">AGFY</a>) shares fell 14.2% to $0.91 in pre-market trading after declining around 23% on Friday. Agrify recently entered into a multi-million dollar sales agreement with Ocean Deep/Golden Lake Business Park.</li>
<li>HUB Cyber Security Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hubc#NASDAQ">HUBC</a>) shares fell 11.8% to $1.50 in pre-market trading after declining 11% on Friday.</li>
<li>Airspan Networks Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mimo#NASDAQ">MIMO</a>) declined 11.3% to $0.1872 in pre-market trading after surging 24% on Friday. Airspan recently announced a partnership with GCT Semiconductor to develop an RF module.</li>
<li>Treasure Global Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tgl#NASDAQ">TGL</a>) shares fell 10.9% to $0.10 in pre-market trading after gaining 9% on Friday.</li>
<li>Archer-Daniels-Midland Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/adm#NYSE">ADM</a>) fell 9.6% to $61.67 in pre-market trading after the company named Ismael Roig as Interim Chief Financial Officer. ADM said it now expects an adjusted earnings per share of $6.90 for the fiscal year ended Dec. 2023.</li>
<li>WiSA Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wisa#NASDAQ">WISA</a>) shares dipped 8.7% to $0.0973 in pre-market trading after declining over 3% on Friday.</li>
<li>Algoma Steel Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/astl#NASDAQ">ASTL</a>) shares declined 8.3% to $8.32 in pre-market trading. Algoma Steel Group announced that in the early hours of Jan. 20, 2024 there was a collapse of a structure supporting utilities piping at our coke-making plant.</li>
<li>Celularity Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/celu#NASDAQ">CELU</a>) shares declined 6.4% to $0.2750 in pre-market trading. For full year 2023 the company recently said it expects net sales percentage growth in the range of 22.7% to 26.6% year over year.</li>
<li>C3is Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ciss#NASDAQ">CISS</a>) fell 5.6% to $0.1277 after falling 6% on Wednesday. C3is shares dipped 64% on Friday after the company announced pricing of its $7 million upsized underwritten public offering.</li>
</ul>
&nbsp;
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Coherus BioSciences shares are trading higher after the company agreed to divest its Cimerli ophthalmology franchise to Sandoz for $170 million plus an additional amount for inventory.

Coherus BioSciences, Inc.&nbsp;((&quot;Coherus, NASDAQ:<a href="https://www.benzinga.com/stock/CHRS#NASDAQ">CHRS</a>) today announced it has entered into an agreement to divest its CIMERLI&reg;&nbsp;(ranibizumab-eqrn) ophthalmology franchise, inclusive of CIMERLI and its supporting commercial infrastructure, to Sandoz for upfront, all-cash consideration of&nbsp;$170 million&nbsp;plus an additional amount for CIMERLI product inventory and subject to customary working capital adjustments at the closing date. This divestiture includes Coherus&#39; CIMERLI biologics license application, ophthalmology sales and select field reimbursement teams, CIMERLI product inventory on hand, and access to proprietary commercial software.

CORRECTION: Coherus To Divest Ophthalmology Franchise To Sandoz In $170M Cash Deal

Coherus Earlier Announced Agreement To Divest Ophthalmology Franchise Cimerli To Novarts' Sandoz Unit For $170M Upfront All Cash Deal

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In a report released yesterday, Colleen M. Kusy from Robert W. Baird maintained a Buy rating on Coherus Biosciences (CHRS – Research Report), with ...

Coherus Biosciences: Strong Q4 Performance and Strategic Moves Merit Outperform Rating

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Coherus Biosciences Inc (CHRS) is higher by 3.23% Friday In Premarket Trading

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ABBV

ACHC

ALVO

AMGN

APLT

AUTL

CGEM

CNDT

FDMT

FSNUF

FSNUY

NVSEF

RADCQ

SLDB

STRC

TERN

TEVA

VTRS

Opinion

Press Releases

Thinking about buying stock in YanGuFang International, Broadcom, Applied Digital, Intelligent Bio Solutions, or Coherus Biosciences?

Financing

Coherus Announces Agreement to Divest Ophthalmology Franchise to Sandoz in $170 Million Upfront All Cash Deal

Coherus Amends Term Loan Agreement with Pharmakon Advisors, LP

Coherus Announces U.S. Launch of UDENYCA ONBODY™ a Novel and Proprietary State-of-the-Art Delivery System for pegfilgrastim-cbqv

Coherus BioSciences Announces New Employment Inducement Grants

Contracts

Coherus Completes Divestiture of Ophthalmology Franchise

Coherus to Report Fourth Quarter and Full Year 2023 Financial Results on March 13, 2024

Coherus BioSciences Reports Fourth Quarter, Full Year 2023 Financial Results and Provides Current Business Update

Coherus Presents Preclinical Data for CHS-1000, a Novel Anti-ILT4 Antibody, at the 2024 AACR Annual Meeting

Coherus Announces Presentation at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting

APLD