Coherus BioSciences (NASDAQ:CHRS) Rating Lowered to Hold at StockNews.com

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

CHRS has been the topic of a number of other research reports. UBS Group cut Coherus BioSciences from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $4.00 to $1.50 in a report on Friday, August 16th. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Coherus BioSciences in a research report on Monday, September 16th. Finally, Robert W. Baird decreased their target price on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Monday, July 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.10.

Coherus BioSciences Stock Up 4.1 %

CHRS stock opened at $0.88 on Friday. The business has a fifty day moving average of $1.18 and a 200-day moving average of $1.60. The company has a market cap of $101.29 million, a P/E ratio of -1.13 and a beta of 0.65. Coherus BioSciences has a twelve month low of $0.84 and a twelve month high of $3.73.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Nomura Holdings Inc. grew its stake in shares of Coherus BioSciences by 225.1% during the 4th quarter. Nomura Holdings Inc. now owns 68,300 shares of the biotechnology company’s stock worth $227,000 after acquiring an additional 47,290 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Coherus BioSciences by 43.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 196,210 shares of the biotechnology company’s stock worth $469,000 after buying an additional 59,390 shares in the last quarter. RFG Advisory LLC acquired a new position in shares of Coherus BioSciences during the 1st quarter worth about $142,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Coherus BioSciences in the first quarter valued at about $108,000. Finally, BNP Paribas Financial Markets raised its holdings in Coherus BioSciences by 694.2% during the first quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock worth $827,000 after acquiring an additional 302,570 shares in the last quarter. 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.