StockNews.com Downgrades Coherus BioSciences (NASDAQ:CHRS) to Hold

StockNews.com downgraded shares of Coherus BioSciences (NASDAQ:CHRS) from a buy rating to a hold rating in a report published on Friday.

Several other equities analysts also recently weighed in on CHRS. Robert W. Baird reduced their price target on Coherus BioSciences from $9.00 to $8.00 and set an outperform rating for the company in a report on Monday, July 1st. UBS Group cut shares of Coherus BioSciences from a buy rating to a neutral rating and decreased their target price for the stock from $4.00 to $1.50 in a report on Friday, August 16th. Truist Financial cut their price target on shares of Coherus BioSciences from $8.00 to $7.00 and set a buy rating on the stock in a report on Monday, May 13th. Finally, HC Wainwright restated a buy rating and issued a $12.00 price objective on shares of Coherus BioSciences in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $6.92.

Coherus BioSciences Stock Performance

CHRS stock opened at $1.31 on Friday. Coherus BioSciences has a fifty-two week low of $1.20 and a fifty-two week high of $5.22. The company has a market capitalization of $150.93 million, a price-to-earnings ratio of -1.68 and a beta of 0.66. The business’s 50 day moving average price is $1.44 and its two-hundred day moving average price is $1.87.

Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.10. The business had revenue of $64.98 million during the quarter, compared to analysts’ expectations of $57.08 million. Sell-side analysts forecast that Coherus BioSciences will post -1.07 earnings per share for the current year.

Hedge Funds Weigh In On Coherus BioSciences

A number of institutional investors and hedge funds have recently modified their holdings of CHRS. BNP Paribas Financial Markets boosted its holdings in shares of Coherus BioSciences by 694.2% in the first quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock worth $827,000 after buying an additional 302,570 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Coherus BioSciences by 82.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 136,820 shares of the biotechnology company’s stock valued at $456,000 after acquiring an additional 61,722 shares during the period. Nomura Holdings Inc. increased its stake in shares of Coherus BioSciences by 225.1% in the 4th quarter. Nomura Holdings Inc. now owns 68,300 shares of the biotechnology company’s stock worth $227,000 after purchasing an additional 47,290 shares in the last quarter. Virtu Financial LLC bought a new position in Coherus BioSciences in the 1st quarter worth $94,000. Finally, Birchview Capital LP purchased a new position in Coherus BioSciences during the fourth quarter valued at $366,000. 72.82% of the stock is currently owned by hedge funds and other 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.