Coherus BioSciences’ (CHRS) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Coherus BioSciences (NASDAQ:CHRS) in a report issued on Thursday,Benzinga reports. They currently have a $12.00 target price on the biotechnology company’s stock.

A number of other brokerages also recently commented on CHRS. UBS Group lowered shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $4.00 to $1.50 in a research note on Friday, August 16th. StockNews.com downgraded shares of 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Coherus BioSciences has an average rating of “Moderate Buy” and an average target price of $6.13.

Coherus BioSciences Trading Down 0.6 %

NASDAQ CHRS opened at $0.82 on Thursday. The company has a market cap of $93.90 million, a PE ratio of -10.19 and a beta of 0.69. Coherus BioSciences has a 1 year low of $0.66 and a 1 year high of $3.70. The stock’s 50-day moving average price is $1.00 and its two-hundred day moving average price is $1.45.

Coherus BioSciences (NASDAQ:CHRS) last released its 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 business had revenue of $64.98 million for the quarter, compared to analysts’ expectations of $57.08 million. Research analysts forecast that Coherus BioSciences will post -1.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Coherus BioSciences in the 1st quarter valued at about $108,000. BNP Paribas Financial Markets increased its stake 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. Susquehanna Fundamental Investments LLC acquired a new stake in Coherus BioSciences in the first quarter worth $349,000. CM Management LLC boosted its position in shares of Coherus BioSciences by 21.4% during the first quarter. CM Management LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $2,390,000 after purchasing an additional 176,000 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Coherus BioSciences in the 1st quarter valued at $100,000. 72.82% of the stock is currently 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.