Coherus BioSciences (NASDAQ:CHRS) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.27 and traded as high as $1.66. Coherus BioSciences shares last traded at $1.57, with a volume of 1,327,378 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Coherus BioSciences in a research note on Wednesday, December 4th. Robert W. Baird boosted their price objective on shares of Coherus BioSciences from $4.00 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Finally, StockNews.com downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Coherus BioSciences presently has a consensus rating of “Moderate Buy” and an average price target of $5.38.

Coherus BioSciences Stock Down 3.8 %

The company has a market cap of $173.97 million, a PE ratio of -18.88 and a beta of 0.82. The company’s fifty day moving average is $1.27 and its 200-day moving average is $1.28.

Hedge Funds Weigh In On Coherus BioSciences

Several institutional investors have recently bought and sold shares of CHRS. Systematic Financial Management LP purchased a new position in shares of Coherus BioSciences in the third quarter valued at $28,000. Hsbc Holdings PLC grew its stake in shares of Coherus BioSciences by 10.6% in the 2nd quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock worth $179,000 after buying an additional 9,905 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Coherus BioSciences by 19.5% in the 2nd quarter. Rhumbline Advisers now owns 154,904 shares of the biotechnology company’s stock worth $268,000 after buying an additional 25,241 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Coherus BioSciences by 6.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 209,460 shares of the biotechnology company’s stock valued at $362,000 after buying an additional 13,250 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Coherus BioSciences by 21.1% in the 3rd quarter. FMR LLC now owns 225,113 shares of the biotechnology company’s stock valued at $234,000 after acquiring an additional 39,204 shares during the last quarter. 72.82% of the stock is 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.