UBS cuts Coherus shares target amid concerns over future revenue growth By Investing.com
https://www.investing.com/news/comp...cerns-over-future-revenue-growth-93CH-3574938
On Friday, UBS downgraded Coherus Biosciences (NASDAQ:CHRS), shifting its rating from Buy to Neutral. The firm also reduced the price target for the biotechnology company's shares to $1.50, a significant decrease from the previous target of $4.00. This adjustment comes amid concerns regarding the company's financial outlook and asset monetization strategy.
The downgrade by UBS was influenced by a reassessment of Coherus Biosciences' revenue growth projections. Following the monetization of the company's products, Yusimry and Cimerli, the expected compound annual growth rate (CAGR) for revenues from 2024 to 2028 has been revised to a decline of 4%, a stark contrast to the previously projected increase of 13%. This adjustment reflects the changing expectations for the company's financial performance over the next several years.
https://www.investing.com/news/comp...cerns-over-future-revenue-growth-93CH-3574938
On Friday, UBS downgraded Coherus Biosciences (NASDAQ:CHRS), shifting its rating from Buy to Neutral. The firm also reduced the price target for the biotechnology company's shares to $1.50, a significant decrease from the previous target of $4.00. This adjustment comes amid concerns regarding the company's financial outlook and asset monetization strategy.
The downgrade by UBS was influenced by a reassessment of Coherus Biosciences' revenue growth projections. Following the monetization of the company's products, Yusimry and Cimerli, the expected compound annual growth rate (CAGR) for revenues from 2024 to 2028 has been revised to a decline of 4%, a stark contrast to the previously projected increase of 13%. This adjustment reflects the changing expectations for the company's financial performance over the next several years.