Brokerages Set Coherus BioSciences, Inc. (NASDAQ:CHRS) PT at $8.83

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $8.83.

A number of equities analysts have issued reports on CHRS shares. Truist Financial decreased their price objective on Coherus BioSciences from $8.00 to $7.00 and set a “buy” rating for the company in a report on Monday, May 13th. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Coherus BioSciences in a research report on Friday, May 24th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CHRS. Sargent Investment Group LLC raised its holdings in Coherus BioSciences by 32.3% in the 4th quarter. Sargent Investment Group LLC now owns 26,060 shares of the biotechnology company’s stock worth $87,000 after acquiring an additional 6,368 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Coherus BioSciences by 32.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 7,608 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Coherus BioSciences by 66.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 21,426 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 8,546 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Coherus BioSciences by 38.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,723 shares of the biotechnology company’s stock valued at $122,000 after purchasing an additional 10,238 shares in the last quarter. Finally, Jump Financial LLC boosted its position in shares of Coherus BioSciences by 50.6% during the fourth quarter. Jump Financial LLC now owns 33,267 shares of the biotechnology company’s stock valued at $111,000 after buying an additional 11,180 shares during the last quarter. 72.82% of the stock is owned by hedge funds and other institutional investors.

Coherus BioSciences Trading Up 1.8 %

Shares of CHRS opened at $1.73 on Tuesday. Coherus BioSciences has a 1-year low of $1.43 and a 1-year high of $5.47. The firm’s 50-day moving average price is $1.92 and its 200-day moving average price is $2.25. The firm has a market capitalization of $198.48 million, a price-to-earnings ratio of -2.22 and a beta of 0.66.

Coherus BioSciences (NASDAQ:CHRS) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.33). The business had revenue of $77.06 million during the quarter, compared to analysts’ expectations of $102.00 million. During the same quarter last year, the business earned ($0.89) EPS. On average, research analysts forecast that Coherus BioSciences will post -1.14 EPS for the current fiscal year.

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.