Coherus BioSciences (NASDAQ:CHRS) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Coherus BioSciences (NASDAQ:CHRS) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

CHRS has been the subject of several other reports. UBS Group lowered Coherus BioSciences from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $4.00 to $1.50 in a research note on Friday, August 16th. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Coherus BioSciences in a research note on Monday, September 16th. Finally, Robert W. Baird lowered their target price on shares of Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a research note on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coherus BioSciences currently has an average rating of “Moderate Buy” and a consensus price target of $7.10.

Coherus BioSciences Price Performance

Coherus BioSciences stock opened at $0.88 on Friday. Coherus BioSciences has a 12 month low of $0.84 and a 12 month high of $3.73. The stock has a market capitalization of $101.29 million, a PE ratio of -1.13 and a beta of 0.65. The business has a 50 day simple moving average of $1.18 and a 200-day simple moving average of $1.61.

Coherus BioSciences (NASDAQ:CHRS) last posted 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 analysts’ expectations of $57.08 million. On average, equities research analysts anticipate that Coherus BioSciences will post -1.16 EPS for the current fiscal year.

Institutional Trading of Coherus BioSciences

Several hedge funds have recently made changes to their positions in CHRS. CM Management LLC grew its position in Coherus BioSciences by 10.0% in the second quarter. CM Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $1,903,000 after acquiring an additional 100,000 shares during the period. AQR Capital Management LLC acquired a new position in shares of Coherus BioSciences in the 2nd quarter valued at $1,246,000. Marshall Wace LLP lifted its stake in shares of Coherus BioSciences by 177.3% in the 2nd quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock valued at $727,000 after purchasing an additional 268,763 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Coherus BioSciences by 159.2% during the 2nd quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock worth $683,000 after purchasing an additional 242,500 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Coherus BioSciences by 26.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 389,225 shares of the biotechnology company’s stock worth $673,000 after purchasing an additional 80,222 shares during the last quarter. Hedge funds and other institutional investors own 72.82% of the company’s stock.

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.