Coherus BioSciences (NASDAQ:CHRS) Rating Increased to Buy at StockNews.com

Coherus BioSciences (NASDAQ:CHRS) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

CHRS has been the subject of a number of other reports. Robert W. Baird decreased 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. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Coherus BioSciences in a research note on Monday, September 16th. Finally, UBS Group downgraded shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $4.00 to $1.50 in a research report on Friday, August 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Coherus BioSciences has an average rating of “Moderate Buy” and an average target price of $7.10.

Coherus BioSciences Price Performance

Shares of CHRS opened at $0.99 on Friday. The business has a 50-day moving average of $1.22 and a 200-day moving average of $1.66. The company has a market capitalization of $113.60 million, a price-to-earnings ratio of -1.27 and a beta of 0.65. Coherus BioSciences has a 1 year low of $0.94 and a 1 year high of $3.98.

Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.10. The firm had revenue of $64.98 million during the quarter, compared to analyst estimates of $57.08 million. As a group, sell-side analysts anticipate that Coherus BioSciences will post -1.16 EPS for the current year.

Institutional Investors Weigh In On Coherus BioSciences

A number of institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in shares of Coherus BioSciences by 2,672.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company’s stock worth $36,000 after buying an additional 19,912 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Coherus BioSciences by 66.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 21,426 shares of the biotechnology company’s stock worth $51,000 after purchasing an additional 8,546 shares during the last quarter. Bayesian Capital Management LP bought a new position in Coherus BioSciences in the 1st quarter valued at $56,000. TIAA Trust National Association purchased a new stake in shares of Coherus BioSciences during the 2nd quarter valued at $47,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Coherus BioSciences by 32.7% during the 1st 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 period. 72.82% of the stock is owned by institutional investors.

Coherus BioSciences Company Profile

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.