Coherus BioSciences, Inc. (NASDAQ:CHRS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $8.00.

Several analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Coherus BioSciences in a report on Friday, May 24th. StockNews.com lowered shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Friday. Truist Financial reduced their price objective on shares of Coherus BioSciences from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Finally, Robert W. Baird reduced their price objective on shares of Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Monday, July 1st.

Coherus BioSciences Trading Up 8.9 %

Shares of CHRS stock opened at $1.72 on Friday. The company’s 50-day moving average price is $1.70 and its 200-day moving average price is $2.12. The stock has a market cap of $197.34 million, a price-to-earnings ratio of -2.21 and a beta of 0.60. Coherus BioSciences has a twelve month low of $1.25 and a twelve month high of $5.47.

Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.33). The firm had revenue of $77.06 million for the quarter, compared to analysts’ expectations of $102.00 million. During the same quarter last year, the firm posted ($0.89) earnings per share. As a group, equities research analysts predict that Coherus BioSciences will post -1.14 EPS for the current year.

Institutional Trading of Coherus BioSciences

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Coherus BioSciences by 10.5% during the third quarter. Vanguard Group Inc. now owns 9,782,127 shares of the biotechnology company’s stock worth $36,585,000 after buying an additional 932,476 shares during the period. BNP Paribas Financial Markets boosted its holdings in Coherus BioSciences by 694.2% in the first quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock valued at $827,000 after purchasing an additional 302,570 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in Coherus BioSciences by 82.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 136,820 shares of the biotechnology company’s stock valued at $456,000 after purchasing an additional 61,722 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in Coherus BioSciences by 225.1% in the fourth quarter. Nomura Holdings Inc. now owns 68,300 shares of the biotechnology company’s stock valued at $227,000 after purchasing an additional 47,290 shares in the last quarter. Finally, Birchview Capital LP acquired a new position in Coherus BioSciences in the fourth quarter valued at approximately $366,000. 72.82% of the stock is currently owned by hedge funds and other institutional investors.

About Coherus BioSciences

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of cancer treatments primarily in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; LOQTORZI, a novel PD-1 inhibitor; and Casdozokitug, an investigational recombinant human immunoglobulin isotype G1 (IgG1) monoclonal antibody targeting interleukin 27.