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

StockNews.com downgraded shares of Coherus BioSciences (NASDAQ:CHRS) from a buy rating to a hold rating in a research note published on Saturday.

Other analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Coherus BioSciences in a research report on Monday, September 16th. UBS Group lowered shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and lowered their price target for the company from $4.00 to $1.50 in a report on Friday, August 16th. Finally, Robert W. Baird cut their price target on shares of Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.10.

Coherus BioSciences Stock Down 1.6 %

Shares of NASDAQ:CHRS opened at $0.86 on Friday. The company’s fifty day moving average is $1.16 and its 200 day moving average is $1.58. Coherus BioSciences has a 52 week low of $0.84 and a 52 week high of $3.73. The stock has a market cap of $98.82 million, a PE ratio of -1.10 and a beta of 0.65.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings data 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 company had revenue of $64.98 million during the quarter, compared to analysts’ expectations of $57.08 million. Sell-side analysts anticipate that Coherus BioSciences will post -1.16 EPS for the current year.

Hedge Funds Weigh In On Coherus BioSciences

Several hedge funds have recently made changes to their positions in CHRS. AQR Capital Management LLC bought a new stake in Coherus BioSciences in the second quarter valued at $1,246,000. BNP Paribas Financial Markets lifted its position in shares of Coherus BioSciences by 694.2% in 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 period. Marshall Wace LLP boosted its stake in shares of Coherus BioSciences by 177.3% during the 2nd quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock valued at $727,000 after purchasing an additional 268,763 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Coherus BioSciences by 159.2% during the second quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock valued at $683,000 after buying an additional 242,500 shares during the period. Finally, XTX Topco Ltd raised its stake in Coherus BioSciences by 304.9% in the second quarter. XTX Topco Ltd now owns 271,433 shares of the biotechnology company’s stock worth $470,000 after buying an additional 204,391 shares in the last quarter. 72.82% of the stock is owned by hedge funds and other 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.