FY2024 EPS Estimates for Coherus BioSciences, Inc. (NASDAQ:CHRS) Reduced by HC Wainwright

Coherus BioSciences, Inc. (NASDAQ:CHRS) – Analysts at HC Wainwright lowered their FY2024 earnings per share estimates for Coherus BioSciences in a research report issued to clients and investors on Monday, September 16th. HC Wainwright analyst D. Tsao now expects that the biotechnology company will earn ($1.16) per share for the year, down from their prior estimate of ($1.07). HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Coherus BioSciences’ current full-year earnings is ($1.07) per share. HC Wainwright also issued estimates for Coherus BioSciences’ Q4 2024 earnings at ($0.25) EPS.

A number of other equities analysts have also issued reports on CHRS. UBS Group lowered Coherus BioSciences from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $4.00 to $1.50 in a research note on Friday, August 16th. StockNews.com downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Finally, Robert W. Baird cut their price target on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Monday, July 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $6.92.

Coherus BioSciences Trading Up 1.0 %

Shares of CHRS opened at $1.05 on Wednesday. Coherus BioSciences has a 12 month low of $1.01 and a 12 month high of $4.73. The stock has a fifty day moving average price of $1.42 and a 200-day moving average price of $1.81. The firm has a market cap of $120.46 million, a PE ratio of -1.35 and a beta of 0.66.

Coherus BioSciences (NASDAQ:CHRS) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.10. The company had revenue of $64.98 million for the quarter, compared to the consensus estimate of $57.08 million.

Institutional Investors Weigh In On Coherus BioSciences

Institutional investors have recently bought and sold shares of the company. CM Management LLC lifted its stake in Coherus BioSciences by 10.0% in the 2nd quarter. CM Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $1,903,000 after purchasing an additional 100,000 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Coherus BioSciences during the 2nd quarter valued at approximately $1,246,000. Marshall Wace LLP raised its position 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 buying an additional 268,763 shares during the period. Renaissance Technologies LLC raised its position in shares of Coherus BioSciences by 159.2% during the 2nd 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, Bank of New York Mellon Corp raised its position in shares of Coherus BioSciences by 26.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 389,225 shares of the biotechnology company’s stock valued at $673,000 after buying an additional 80,222 shares during the period. 72.82% of the stock is currently owned by institutional investors and hedge funds.

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.