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

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

CHRS has been the subject of several other research reports. Truist Financial cut their target price on Coherus BioSciences from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, May 13th. Robert W. Baird cut their price objective 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 downgraded shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and reduced their target price for the company from $4.00 to $1.50 in a research note on Friday, August 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Coherus BioSciences in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Coherus BioSciences presently has a consensus rating of “Moderate Buy” and an average price target of $6.92.

Coherus BioSciences Stock Performance

Shares of CHRS stock opened at $1.24 on Friday. The firm has a fifty day moving average of $1.45 and a 200-day moving average of $1.88. The stock has a market cap of $142.26 million, a price-to-earnings ratio of -1.59 and a beta of 0.66. Coherus BioSciences has a 52-week low of $1.20 and a 52-week high of $5.22.

Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.10. The business had revenue of $64.98 million during the quarter, compared to analyst estimates of $57.08 million. On average, sell-side analysts predict that Coherus BioSciences will post -1.07 earnings per share for the current year.

Institutional Investors Weigh In On Coherus BioSciences

A number of hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Coherus BioSciences by 38.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,723 shares of the biotechnology company’s stock worth $122,000 after purchasing an additional 10,238 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Coherus BioSciences during the 4th quarter worth $243,000. Los Angeles Capital Management LLC boosted its position in Coherus BioSciences by 82.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 136,820 shares of the biotechnology company’s stock valued at $456,000 after buying an additional 61,722 shares during the last quarter. Jump Financial LLC increased its stake in shares of Coherus BioSciences by 50.6% in the 4th quarter. Jump Financial LLC now owns 33,267 shares of the biotechnology company’s stock valued at $111,000 after buying an additional 11,180 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Coherus BioSciences in the 4th quarter valued at $47,000. Institutional investors own 72.82% of the company’s stock.

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.