Coherus BioSciences, Inc. (NASDAQ:CHRS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $8.83.

A number of analysts recently issued reports on CHRS shares. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Coherus BioSciences in a report on Friday, May 24th. Truist Financial dropped their target price on Coherus BioSciences from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, May 13th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. TrinityPoint Wealth LLC acquired a new position in shares of Coherus BioSciences during the 4th quarter valued at about $40,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Coherus BioSciences by 430.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,880 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 10,454 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in shares of Coherus BioSciences in the 4th quarter valued at approximately $47,000. Vontobel Holding Ltd. acquired a new stake in shares of Coherus BioSciences during the 4th quarter worth approximately $50,000. Finally, ELCO Management Co. LLC purchased a new stake in shares of Coherus BioSciences during the 3rd quarter valued at approximately $57,000. 72.82% of the stock is owned by hedge funds and other institutional investors.

Coherus BioSciences Stock Down 2.4 %

Shares of CHRS stock opened at $1.63 on Tuesday. Coherus BioSciences has a 52-week low of $1.43 and a 52-week high of $5.47. The stock has a market cap of $187.01 million, a PE ratio of -2.09 and a beta of 0.66. The business has a 50-day simple moving average of $1.95 and a 200-day simple moving average of $2.27.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.33). The business had revenue of $77.06 million during the quarter, compared to analyst estimates of $102.00 million. During the same quarter in the previous year, the company posted ($0.89) EPS. Sell-side analysts anticipate that Coherus BioSciences will post -1.14 earnings per share for the current fiscal year.

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.