Selected stock price target news of the day - December 27th, 2023

By: Matthew Otto

Coherus’ UDENYCA ONBODY FDA Approval

Coherus BioSciences achieved a milestone with the U.S. Food and Drug Administration approval of UDENYCA ONBODY. UDENYCA ONBODY introduces a groundbreaking on-body injector presentation of UDENYCA—pegfilgrastim-cbqv, a pegfilgrastim biosimilar designed to decrease the incidence of infection in patients undergoing chemotherapy. The device’s unique features include a five-minute injection time, retractable needle mechanism, and patient-friendly indicators.

Each year, more than 1 million cancer patients in the United States receive chemotherapy or radiation which represents approcimatly three percent of the population and a quarter of patients suffering from cancer.

With UDENYCA available in three administration formats—prefilled syringe, autoinjector, and now the innovative on-body injector—cancer patients and their physicians gain flexibility in choosing the suitable administration method for individual needs. The commercial availability of UDENYCA ONBODY is anticipated in the first quarter of 2024.

Analyst Holds Buy Rating for Coherus BioSciences

HC Wainwright & Co. analyst Douglas Tsao reaffirmed a Buy rating and a $13 price target.

Which Analyst has the best track record to show on CHRS?

Analyst Jason Mccarthy (MAXIM GROUP) currently has the highest performing score on CHRS with 3/8 (37.5%) price target fulfillment ratio. His price targets carry an average of $7.72 (54.06%) potential upside. Coherus BioSciences stock price reaches these price targets on average within 181 days.

Bristol Myers Acquires RayzeBio for $4.1 Billion

Bristol Myers Squibb announced its acquisition of RayzeBio for approximately $4.1 billion, marking the pharmaceutica’s second multi-billion dollar deal in less than a week. The move underscores Bristol Myers Squibb’s strategic initiative to strengthen its cancer drug portfolio amid the impending loss of patent protection for some of its established therapies. The acquisition grants Bristol Myers Squibb access to RayzeBio’s late-stage targeted radiopharma therapy, RYZ101, designed to deliver radioactive particles to cancerous tissues, enhancing the company’s capabilities in the rapidly advancing field of oncology. Additionally, the deal includes ownership of RayzeBio’s manufacturing facility located in Indianapolis, Indiana.

Analysts Keeps Rating for Bristol-Myers Squibb

BofA Securities analyst Geoff Meacham maintained a Buy rating and lowered the price target from $72 to $68.

Which Analyst has the best track record to show on BMY?

Analyst Mohit Bansal (WELLS FARGO) currently has the highest performing score on BMY with 3/5 (60%) price target fulfillment ratio. His price targets carry an average of $4.21 (6.93%) potential upside. Bristol Myers Squibb stock price reaches these price targets on average within 13 days.