HC Wainwright Reiterates “Buy” Rating for Coherus BioSciences (NASDAQ:CHRS)

Coherus BioSciences (NASDAQ:CHRS)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $7.00 target price on the biotechnology company’s stock.

Separately, Robert W. Baird lifted their price objective on shares of Coherus BioSciences from $4.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.38.

Coherus BioSciences Stock Performance

CHRS stock opened at $1.04 on Tuesday. Coherus BioSciences has a 1 year low of $0.66 and a 1 year high of $2.64. The stock has a market capitalization of $120.53 million, a price-to-earnings ratio of -13.00 and a beta of 0.92. The stock’s fifty day moving average is $1.25 and its two-hundred day moving average is $1.19.

Institutional Investors Weigh In On Coherus BioSciences

Institutional investors have recently bought and sold shares of the stock. State of Wyoming raised its position in shares of Coherus BioSciences by 61.5% during the 4th quarter. State of Wyoming now owns 119,270 shares of the biotechnology company’s stock worth $165,000 after buying an additional 45,405 shares in the last quarter. Stonepine Capital Management LLC acquired a new position in shares of Coherus BioSciences during the fourth quarter valued at approximately $345,000. Tang Capital Management LLC raised its holdings in Coherus BioSciences by 55.3% during the fourth quarter. Tang Capital Management LLC now owns 3,650,000 shares of the biotechnology company’s stock worth $5,037,000 after purchasing an additional 1,300,000 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Coherus BioSciences in the fourth quarter worth approximately $7,291,000. Finally, Millennium Management LLC lifted its position in Coherus BioSciences by 31.6% in the fourth quarter. Millennium Management LLC now owns 1,049,603 shares of the biotechnology company’s stock worth $1,448,000 after purchasing an additional 252,092 shares during the period. Institutional investors and hedge funds 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.