HC Wainwright Brokers Decrease Earnings Estimates for Coherus BioSciences, Inc. (NASDAQ:CHRS)

Coherus BioSciences, Inc. (NASDAQ:CHRS) – Research analysts at HC Wainwright decreased their FY2024 earnings estimates for shares of Coherus BioSciences in a research note issued on Monday, September 16th. HC Wainwright analyst D. Tsao now forecasts that the biotechnology company will post earnings per share of ($1.16) for the year, down from their prior forecast of ($1.07). HC Wainwright has a “Buy” rating and a $12.00 price target on the stock. The consensus estimate for Coherus BioSciences’ current full-year earnings is ($1.07) per share. HC Wainwright also issued estimates for Coherus BioSciences’ Q4 2024 earnings at ($0.25) EPS.

CHRS has been the subject of a number of other research reports. StockNews.com lowered Coherus BioSciences from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Robert W. Baird cut their price target 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. Finally, UBS Group cut shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $4.00 to $1.50 in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.92.

Coherus BioSciences Trading Down 1.0 %

Coherus BioSciences stock opened at $1.04 on Wednesday. The firm has a market cap of $119.32 million, a P/E ratio of -1.33 and a beta of 0.66. Coherus BioSciences has a 1-year low of $1.01 and a 1-year high of $4.91. The firm has a 50-day moving average of $1.43 and a 200-day moving average of $1.81.

Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.10. The firm had revenue of $64.98 million for the quarter, compared to analysts’ expectations of $57.08 million.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. TrinityPoint Wealth LLC bought a new position in shares of Coherus BioSciences during the fourth quarter valued at $40,000. RPO LLC purchased a new position in Coherus BioSciences in the fourth quarter worth about $65,000. Nisa Investment Advisors LLC lifted its stake in shares of Coherus BioSciences by 2,672.8% in the second quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company’s stock worth $36,000 after buying an additional 19,912 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Coherus BioSciences by 66.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 21,426 shares of the biotechnology company’s stock worth $51,000 after buying an additional 8,546 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of Coherus BioSciences during the first quarter valued at approximately $56,000. Hedge funds and other institutional investors own 72.82% of the company’s stock.

Coherus BioSciences Company Profile

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.