Coherus BioSciences (NASDAQ:CHRS) Cut 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 report released on Saturday morning.

A number of other equities analysts also recently commented on the company. UBS Group downgraded Coherus BioSciences from a “buy” rating to a “neutral” rating and decreased their target price for the company from $4.00 to $1.50 in a report on Friday, August 16th. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Coherus BioSciences in a report on Monday, September 16th. Finally, Robert W. Baird decreased their target price on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Monday, July 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.10.

Coherus BioSciences Stock Performance

Shares of CHRS stock opened at $0.88 on Friday. Coherus BioSciences has a fifty-two week low of $0.84 and a fifty-two week high of $3.73. The stock has a 50 day moving average price of $1.17 and a two-hundred day moving average price of $1.59. The company has a market capitalization of $100.48 million, a P/E ratio of -1.12 and a beta of 0.65.

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 the consensus estimate of ($0.30) by $0.10. The company had revenue of $64.98 million during the quarter, compared to the consensus estimate of $57.08 million. As a group, equities analysts predict that Coherus BioSciences will post -1.16 earnings per share for the current year.

Hedge Funds Weigh In On Coherus BioSciences

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in Coherus BioSciences by 2,672.8% in the second quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 19,912 shares in the last quarter. TIAA Trust National Association bought a new position in Coherus BioSciences in the second quarter worth $47,000. Bayesian Capital Management LP bought a new position in Coherus BioSciences in the first quarter worth $56,000. Price T Rowe Associates Inc. MD raised its holdings in Coherus BioSciences by 32.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 7,608 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Coherus BioSciences in the first quarter worth $94,000. Institutional investors own 72.82% of the company’s stock.

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.