Synergy Of Coherus And Surface Oncology: Analyst Forecasts $50M Savings And 2024 Profitability
Portfolio Pulse from Nabaparna Bhattacharya
Coherus BioSciences (CHRS) has agreed to acquire Surface Oncology (SURF), with the deal expected to save CHRS at least $50 million and achieve profitability by 2024. Truist Securities analyst Robyn Karnauskas reiterated a Buy rating on CHRS, lowering the price target to $22 from $24.
June 20, 2023 | 6:57 pm
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POSITIVE IMPACT
Coherus BioSciences' acquisition of Surface Oncology is expected to save at least $50 million and achieve profitability by 2024. Analyst lowers price target to $22.
The acquisition of Surface Oncology is expected to bring significant cost savings and R&D synergies for Coherus BioSciences. This will likely have a positive impact on CHRS stock in the short term, despite the lowered price target.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Surface Oncology is being acquired by Coherus BioSciences, which is expected to save CHRS at least $50 million and achieve profitability by 2024.
As Surface Oncology is being acquired by Coherus BioSciences, the deal is expected to bring significant cost savings and R&D synergies for CHRS. This will likely have a positive impact on SURF stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100