Coherus BioSciences, Inc. (NASDAQ:CHRS) Receives $8.00 Consensus PT from Brokerages

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $6.92.

A number of research firms recently issued reports on CHRS. UBS Group cut Coherus BioSciences from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $4.00 to $1.50 in a research note on Friday, August 16th. Truist Financial lowered their target price on Coherus BioSciences from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, May 13th. Robert W. Baird lowered their target price on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Monday, July 1st. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Coherus BioSciences in a research note on Monday, August 5th. Finally, StockNews.com cut Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Friday, July 26th.

Hedge Funds Weigh In On Coherus BioSciences

A number of large investors have recently bought and sold shares of CHRS. TrinityPoint Wealth LLC acquired a new stake in shares of Coherus BioSciences in the 4th quarter valued at approximately $40,000. Baader Bank Aktiengesellschaft bought a new stake in Coherus BioSciences in the 4th quarter valued at $47,000. Vontobel Holding Ltd. bought a new stake in Coherus BioSciences in the 4th quarter valued at $50,000. RPO LLC bought a new stake in Coherus BioSciences in the 4th quarter valued at $65,000. Finally, Nisa Investment Advisors LLC raised its stake in Coherus BioSciences by 2,672.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 19,912 shares during the period. Institutional investors and hedge funds own 72.82% of the company’s stock.

Coherus BioSciences Stock Performance

NASDAQ CHRS opened at $1.25 on Wednesday. The business has a 50 day simple moving average of $1.54 and a 200 day simple moving average of $1.99. Coherus BioSciences has a 52-week low of $1.20 and a 52-week high of $5.47. The stock has a market cap of $143.41 million, a price-to-earnings ratio of -1.61 and a beta of 0.60.

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.