Coherus BioSciences, Inc. (NASDAQ:CHRS) Sees Large Decrease in Short Interest

Coherus BioSciences, Inc. (NASDAQ:CHRS) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 30,720,000 shares, a decline of 7.0% from the November 15th total of 33,040,000 shares. Based on an average daily volume of 5,120,000 shares, the days-to-cover ratio is presently 6.0 days.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CHRS shares. StockNews.com downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a research report on Saturday, October 19th. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Coherus BioSciences in a research report on Wednesday, December 4th. Finally, Robert W. Baird upped their price objective on Coherus BioSciences from $4.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.38.

Hedge Funds Weigh In On Coherus BioSciences

Hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its position in 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 valued at $36,000 after acquiring an additional 19,912 shares during the last quarter. Systematic Financial Management LP purchased a new stake in shares of Coherus BioSciences in the 3rd quarter worth $28,000. TIAA Trust National Association purchased a new stake in shares of Coherus BioSciences in the 2nd quarter worth $47,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Coherus BioSciences by 32.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company’s stock worth $74,000 after buying an additional 7,608 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Coherus BioSciences by 10.6% in the 2nd quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock worth $179,000 after buying an additional 9,905 shares during the period. Institutional investors own 72.82% of the company’s stock.

Coherus BioSciences Stock Up 0.6 %

Shares of Coherus BioSciences stock opened at $1.71 on Wednesday. The stock’s fifty day moving average is $1.06 and its two-hundred day moving average is $1.30. The company has a market capitalization of $197.01 million, a PE ratio of -21.38 and a beta of 0.86. Coherus BioSciences has a 52 week low of $0.66 and a 52 week high of $3.70.

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.