Coherus BioSciences (NASDAQ:CHRS) Cut to Hold at StockNews.com

StockNews.com cut shares of Coherus BioSciences (NASDAQ:CHRS) from a buy rating to a hold rating in a research report released on Saturday.

A number of other research firms have also weighed in on CHRS. UBS Group lowered Coherus BioSciences from a “buy” rating to a “neutral” rating and reduced their target price for the company from $4.00 to $1.50 in a report on Friday, August 16th. Robert W. Baird cut their price objective on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Monday, July 1st. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Coherus BioSciences in a report on Monday, September 16th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.10.

Coherus BioSciences Stock Down 0.8 %

CHRS stock opened at $0.88 on Friday. The firm has a market capitalization of $100.48 million, a PE ratio of -1.12 and a beta of 0.65. Coherus BioSciences has a twelve month low of $0.84 and a twelve month high of $3.73. The stock has a 50-day simple moving average of $1.17 and a two-hundred day simple moving average of $1.59.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CHRS. Nomura Holdings Inc. boosted its stake in Coherus BioSciences by 225.1% in the fourth quarter. Nomura Holdings Inc. now owns 68,300 shares of the biotechnology company’s stock worth $227,000 after buying an additional 47,290 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Coherus BioSciences by 43.4% in the first quarter. Los Angeles Capital Management LLC now owns 196,210 shares of the biotechnology company’s stock worth $469,000 after buying an additional 59,390 shares in the last quarter. RFG Advisory LLC purchased a new stake in Coherus BioSciences in the first quarter worth approximately $142,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Coherus BioSciences in the first quarter worth approximately $108,000. Finally, BNP Paribas Financial Markets boosted its stake in Coherus BioSciences by 694.2% in the first quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock worth $827,000 after buying an additional 302,570 shares in the last quarter. Hedge funds and other institutional investors own 72.82% of the company’s stock.

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.