Baird raised the firm’s price target on Coherus Biosciences (CHRS) to $6 from $4 and keeps an Outperform rating on the shares. The firm noted Coherus has reached an agreement to sell Udenyca for $483M cash upfront(plus up to $75M in sales milestones to Intas Pharmaceuticals. The big upfront payment removes a balance sheet overhang and funds its pipeline.
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