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 research report released on Saturday morning.

Other equities analysts have also issued research reports about the company. UBS Group lowered Coherus BioSciences from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $4.00 to $1.50 in a research report on Friday, August 16th. Robert W. Baird decreased their target price on shares of Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Monday, July 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Coherus BioSciences in a report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.10.

Coherus BioSciences Stock Performance

CHRS stock opened at $0.86 on Friday. The firm has a 50 day moving average price of $1.16 and a 200-day moving average price of $1.58. Coherus BioSciences has a 52-week low of $0.84 and a 52-week high of $3.73. The firm has a market capitalization of $98.82 million, a price-to-earnings ratio of -1.10 and a beta of 0.65.

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

Institutional Investors Weigh In On Coherus BioSciences

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in shares of Coherus BioSciences during the 2nd quarter valued at about $1,246,000. Marshall Wace LLP lifted its position in Coherus BioSciences by 177.3% during the second quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock valued at $727,000 after purchasing an additional 268,763 shares during the period. XTX Topco Ltd boosted its holdings in Coherus BioSciences by 304.9% in the second quarter. XTX Topco Ltd now owns 271,433 shares of the biotechnology company’s stock worth $470,000 after purchasing an additional 204,391 shares during the last quarter. Hsbc Holdings PLC grew its position in 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 purchasing an additional 9,905 shares during the period. Finally, Renaissance Technologies LLC grew its position in Coherus BioSciences by 159.2% in the 2nd quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock worth $683,000 after purchasing an additional 242,500 shares during the period. 72.82% of the stock is currently owned by 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.