Brokerages Set Coherus BioSciences, Inc. (NASDAQ:CHRS) Target Price at $7.13

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) have earned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $7.13.

A number of brokerages have issued reports on CHRS. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Coherus BioSciences in a report on Monday, September 16th. UBS Group downgraded shares of 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 report on Friday, August 16th. Finally, StockNews.com cut shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Saturday, October 19th.

Hedge Funds Weigh In On Coherus BioSciences

A number of large investors have recently added to or reduced their stakes in CHRS. BNP Paribas Financial Markets raised its position in shares of Coherus BioSciences by 694.2% during the 1st quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock worth $827,000 after purchasing an additional 302,570 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Coherus BioSciences in the first quarter worth approximately $94,000. AQR Capital Management LLC purchased a new stake in shares of Coherus BioSciences during the second quarter worth approximately $1,246,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Coherus BioSciences in the 1st quarter valued at $108,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Coherus BioSciences in the 1st quarter valued at $349,000. 72.82% of the stock is currently owned by institutional investors and hedge funds.

Coherus BioSciences Trading Down 3.0 %

NASDAQ:CHRS opened at $0.72 on Monday. The company has a market capitalization of $83.30 million, a P/E ratio of -1.86 and a beta of 0.65. Coherus BioSciences has a 12 month low of $0.71 and a 12 month high of $3.73. The firm has a fifty day simple moving average of $1.08 and a 200-day simple moving average of $1.51.

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

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.