HC Wainwright Reiterates Buy Rating for Coherus BioSciences (NASDAQ:CHRS)

Coherus BioSciences (NASDAQ:CHRS)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They currently have a $12.00 price objective on the biotechnology company’s stock.

Several other research analysts also recently commented on CHRS. StockNews.com downgraded shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Robert W. Baird dropped their price target on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Monday, July 1st. Finally, UBS Group downgraded Coherus BioSciences from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $4.00 to $1.50 in a research note on Friday, August 16th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.92.

Coherus BioSciences Stock Up 0.8 %

Shares of Coherus BioSciences stock opened at $1.30 on Monday. Coherus BioSciences has a 52 week low of $1.20 and a 52 week high of $4.97. The company has a market capitalization of $149.14 million, a price-to-earnings ratio of -1.67 and a beta of 0.66. The stock’s 50-day simple moving average is $1.44 and its 200-day simple moving average is $1.83.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.10. The company had revenue of $64.98 million for the quarter, compared to the consensus estimate of $57.08 million. On average, equities analysts expect that Coherus BioSciences will post -1.07 earnings per share for the current year.

Institutional Investors Weigh In On Coherus BioSciences

Several large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new stake in shares of Coherus BioSciences in the 2nd quarter valued at approximately $1,246,000. Marshall Wace LLP lifted its position in Coherus BioSciences by 177.3% in the second quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock worth $727,000 after buying an additional 268,763 shares during the last quarter. XTX Topco Ltd boosted its stake in Coherus BioSciences by 304.9% during the second quarter. XTX Topco Ltd now owns 271,433 shares of the biotechnology company’s stock worth $470,000 after buying an additional 204,391 shares during the period. Hsbc Holdings PLC increased its position in Coherus BioSciences by 10.6% during the second quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock valued at $179,000 after acquiring an additional 9,905 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Coherus BioSciences by 159.2% in the second quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock valued at $683,000 after acquiring an additional 242,500 shares during the period. 72.82% of the stock is owned by 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.