Coherus Oncology shares surge 30.18% after-hours as Oppenheimer initiates coverage with outperform rating and $10 price target.

Coherus Oncology (CHRS) surged 30.18% in after-hours trading following Oppenheimer’s initiation of coverage with an "Outperform" rating and a $10 price target, representing over 500% upside from its prior close of $1.59. The firm cited the company’s growth potential in 2026, driven by upcoming clinical data for its lead anti-CCR8 antibody tagmokitug combined with Loqtorzi, its commercial PD-1 inhibitor. Analyst Jay Olson highlighted Coherus’s unique position as a small-cap oncology firm with an approved PD-1 backbone, enabling efficient development of combination therapies, and emphasized external validation from large pharma investments in similar mechanisms. The $1.4 billion peak risk-adjusted revenue forecast further underscored the bullish outlook, spurring strong investor interest in the after-hours session.