Bank of New York Mellon Corp Increases Stake in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Bank of New York Mellon Corp raised its holdings in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) by 26.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 389,225 shares of the biotechnology company’s stock after purchasing an additional 80,222 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.34% of Coherus BioSciences worth $673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CHRS. Nisa Investment Advisors LLC lifted its stake in Coherus BioSciences by 2,672.8% in the 2nd 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. TrinityPoint Wealth LLC purchased a new stake in shares of Coherus BioSciences in the fourth quarter worth $40,000. China Universal Asset Management Co. Ltd. raised its position in shares of Coherus BioSciences by 66.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 21,426 shares of the biotechnology company’s stock worth $51,000 after buying an additional 8,546 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Coherus BioSciences during the first quarter worth about $56,000. Finally, RPO LLC purchased a new position in Coherus BioSciences during the fourth quarter worth about $65,000. Institutional investors own 72.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CHRS. UBS Group downgraded shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and lowered their target price for the company from $4.00 to $1.50 in a research note on Friday, August 16th. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Coherus BioSciences in a research report on Monday, September 16th. StockNews.com lowered shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Finally, Robert W. Baird reduced their target price on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a research note on Monday, July 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coherus BioSciences currently has a consensus rating of “Moderate Buy” and an average target price of $6.92.

Coherus BioSciences Trading Down 9.7 %

Coherus BioSciences stock opened at $1.02 on Monday. Coherus BioSciences, Inc. has a 12-month low of $1.01 and a 12-month high of $4.48. The firm has a market capitalization of $117.02 million, a price-to-earnings ratio of -1.31 and a beta of 0.66. The firm has a 50 day moving average of $1.40 and a 200 day moving average of $1.79.

Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.10. The business had revenue of $64.98 million during the quarter, compared to analysts’ expectations of $57.08 million. On average, analysts predict that Coherus BioSciences, Inc. will post -1.07 EPS for the current 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.