Los Angeles Capital Management LLC Raises Stake in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Los Angeles Capital Management LLC lifted its position in Coherus BioSciences, Inc. (NASDAQ:CHRS) by 20.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,116,142 shares of the biotechnology company’s stock after purchasing an additional 186,010 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Coherus BioSciences were worth $1,540,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steph & Co. bought a new position in Coherus BioSciences in the 4th quarter worth $34,000. Systematic Financial Management LP bought a new stake in Coherus BioSciences during the third quarter valued at about $28,000. Ieq Capital LLC purchased a new position in shares of Coherus BioSciences in the fourth quarter valued at about $68,000. Savant Capital LLC bought a new position in shares of Coherus BioSciences in the fourth quarter worth about $130,000. Finally, FMR LLC grew its position in shares of Coherus BioSciences by 21.1% during the third quarter. FMR LLC now owns 225,113 shares of the biotechnology company’s stock worth $234,000 after purchasing an additional 39,204 shares in the last quarter. 72.82% of the stock is owned by hedge funds and other institutional investors.

Coherus BioSciences Trading Up 2.8 %

Shares of CHRS stock opened at $1.11 on Friday. The stock has a market capitalization of $128.64 million, a price-to-earnings ratio of -13.88 and a beta of 0.81. Coherus BioSciences, Inc. has a 12-month low of $0.66 and a 12-month high of $2.64. The stock’s 50-day moving average price is $1.30 and its 200-day moving average price is $1.20.

Analysts Set New Price Targets

A number of research analysts recently commented on CHRS shares. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Coherus BioSciences in a report on Thursday, January 23rd. Robert W. Baird boosted their target price 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.38.

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.