StockNews.com Upgrades Coherus BioSciences (NASDAQ:CHRS) to “Buy”

StockNews.com upgraded shares of Coherus BioSciences (NASDAQ:CHRS) from a hold rating to a buy rating in a research note published on Friday morning.

A number of other research firms also recently weighed in on CHRS. UBS Group downgraded shares of 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 report on Friday, August 16th. Robert W. Baird decreased their price objective 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. Finally, HC Wainwright reaffirmed a buy rating and issued a $12.00 price objective on shares of Coherus BioSciences in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Coherus BioSciences has a consensus rating of Moderate Buy and an average price target of $7.10.

Coherus BioSciences Trading Down 5.2 %

Shares of Coherus BioSciences stock opened at $0.94 on Friday. The firm has a market cap of $107.74 million, a PE ratio of -1.20 and a beta of 0.65. The stock has a 50 day moving average of $1.22 and a 200 day moving average of $1.64. Coherus BioSciences has a 12 month low of $0.94 and a 12 month high of $3.98.

Coherus BioSciences (NASDAQ:CHRS) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.10. The firm had revenue of $64.98 million for the quarter, compared to the consensus estimate of $57.08 million. As a group, equities research analysts forecast that Coherus BioSciences will post -1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. AQR Capital Management LLC bought a new stake in shares of Coherus BioSciences during the 2nd quarter worth approximately $1,246,000. Marshall Wace LLP increased its stake in Coherus BioSciences by 177.3% in the second quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock worth $727,000 after purchasing an additional 268,763 shares during the period. XTX Topco Ltd lifted its position in shares of Coherus BioSciences by 304.9% during the second quarter. XTX Topco Ltd now owns 271,433 shares of the biotechnology company’s stock worth $470,000 after purchasing an additional 204,391 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Coherus BioSciences by 10.6% during the second quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock valued at $179,000 after purchasing an additional 9,905 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Coherus BioSciences by 159.2% in the second quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock worth $683,000 after purchasing an additional 242,500 shares during the last quarter. Hedge funds and other institutional investors own 72.82% of the company’s stock.

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.