AQR Capital Management LLC Takes Position in Coherus BioSciences, Inc. (NASDAQ:CHRS)

AQR Capital Management LLC acquired a new stake in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 719,999 shares of the biotechnology company’s stock, valued at approximately $1,246,000. AQR Capital Management LLC owned about 0.63% of Coherus BioSciences as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. CM Management LLC lifted its position in Coherus BioSciences by 10.0% during the second quarter. CM Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $1,903,000 after buying an additional 100,000 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Coherus BioSciences by 177.3% in the 2nd quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock worth $727,000 after acquiring an additional 268,763 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Coherus BioSciences by 159.2% during 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. Bank of New York Mellon Corp increased its holdings in Coherus BioSciences by 26.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 389,225 shares of the biotechnology company’s stock valued at $673,000 after purchasing an additional 80,222 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Coherus BioSciences by 694.2% in the first quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock valued at $827,000 after purchasing an additional 302,570 shares during the period. 72.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CHRS shares. Robert W. Baird cut their price objective on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Monday, July 1st. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Coherus BioSciences in a research note on Monday, September 16th. StockNews.com raised shares of Coherus BioSciences from a “hold” rating to a “buy” rating in a research note on Friday. Finally, UBS Group downgraded shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and cut their target price for the stock from $4.00 to $1.50 in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.92.

Coherus BioSciences Trading Up 2.0 %

Coherus BioSciences stock opened at $0.99 on Friday. The company has a fifty day simple moving average of $1.22 and a 200-day simple moving average of $1.66. The stock has a market cap of $113.60 million, a P/E ratio of -1.27 and a beta of 0.65. Coherus BioSciences, Inc. has a 12-month low of $0.94 and a 12-month high of $3.98.

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

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.