Coherus BioSciences (NASDAQ:CHRS) Shares Pass Above 200-Day Moving Average – Here’s Why

Coherus BioSciences, Inc. (NASDAQ:CHRS)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.26 and traded as high as $1.39. Coherus BioSciences shares last traded at $1.35, with a volume of 2,880,481 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Coherus BioSciences in a research note on Thursday, January 23rd. StockNews.com lowered Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. Finally, Robert W. Baird boosted their price target on Coherus BioSciences from $4.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.38.

Coherus BioSciences Stock Down 12.6 %

The company has a 50 day moving average of $1.45 and a 200 day moving average of $1.26. The stock has a market capitalization of $136.75 million, a price-to-earnings ratio of -14.75 and a beta of 0.82.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Systematic Financial Management LP purchased a new stake in Coherus BioSciences in the third quarter valued at approximately $28,000. Steph & Co. acquired a new position in shares of Coherus BioSciences in the 4th quarter valued at $34,000. Savant Capital LLC purchased a new stake in shares of Coherus BioSciences during the 4th quarter valued at $130,000. Hsbc Holdings PLC increased its holdings in shares of Coherus BioSciences by 10.6% during the 2nd quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock worth $179,000 after buying an additional 9,905 shares during the last quarter. Finally, FMR LLC boosted its holdings in Coherus BioSciences by 21.1% in the third quarter. FMR LLC now owns 225,113 shares of the biotechnology company’s stock valued at $234,000 after acquiring an additional 39,204 shares during the last quarter. 72.82% of the stock is currently 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.