Oppenheimer Initiates Coherus Oncology (CHRS) at Outperform with $10 Price Target
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: seekingalpha
- Promise of Anti-CCR8 Antibody: Oppenheimer has upgraded Coherus Oncology (CHRS) to outperform, citing the significant potential of its anti-CCR8 monoclonal antibody tagmokitug for various cancers, with a price target of $10 representing a 529% upside from the January 22 close.
- Significant Stock Surge: Following Oppenheimer's rating, Coherus shares rose approximately 31% in Friday trading, reflecting strong market confidence in its new therapies and positive investor sentiment.
- Clinical Trial Advancements: Tagmokitug is currently in phase 2 trials as a fourth-line treatment for colorectal cancer and in phase 1 for head and neck squamous cell carcinoma, gastric, and esophageal cancers, indicating its potential for multiple applications in cancer treatment.
- Growth Potential in Combination Therapies: Analyst Jay Olson noted that Coherus' sole marketed product, Loqtorizi (toripalimab), a PD-1 inhibitor for nasopharyngeal carcinoma, could see growth as part of combination therapies, further enhancing the company's competitive position in the market.
Analyst Views on CHRS
Wall Street analysts forecast CHRS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CHRS is 5.50 USD with a low forecast of 4.00 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 1.590
Low
4.00
Averages
5.50
High
7.00
Current: 1.590
Low
4.00
Averages
5.50
High
7.00
About CHRS
Coherus Oncology, Inc., formerly Coherus BioSciences, Inc., is a fully integrated commercial-stage oncology company with an approved PD-1 inhibitor, LOQTORZI, and a pipeline that includes two mid-stage clinical candidates targeting liver, lung, head & neck, and other cancers. LOQTORZI (toripalimab-tpzi) is its immuno-oncology franchise. LOQTORZI is the FDA-approved treatment indicated in combination with chemotherapy for recurrent or metastatic nasopharyngeal carcinoma (NPC) and is also in development for the treatment of additional tumor types. Its CHS-114 pipeline is a highly selective cytolytic CCR8 antibody that specifically binds and preferentially depletes CCR8+ tumor regulatory T cells (Tregs) with no off-target binding. Its Casdozokitug pipeline is a first-in-class, clinical-stage IL-27 antagonist, with demonstrated monotherapy activity in treatment-refractory NSCLC and clear cell renal cell carcinoma (ccRCC) and combination activity in hepatocellular carcinoma (HCC).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
