Coherus BioSciences, Inc. (NASDAQ:CHRS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) have been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $7.13.

A number of equities analysts have issued reports on the company. StockNews.com cut Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. UBS Group cut shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $4.00 to $1.50 in a report on Friday, August 16th. Robert W. Baird dropped their price objective on shares of Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Monday, July 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Coherus BioSciences in a research report on Monday, September 16th.

Coherus BioSciences Price Performance

Shares of CHRS stock opened at $0.78 on Monday. The stock has a market capitalization of $89.95 million, a PE ratio of -1.01 and a beta of 0.65. The business’s 50 day simple moving average is $1.12 and its 200 day simple moving average is $1.54. Coherus BioSciences has a one year low of $0.78 and a one year high of $3.73.

Coherus BioSciences (NASDAQ:CHRS) last released 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 firm had revenue of $64.98 million during the quarter, compared to analyst estimates of $57.08 million. As a group, research analysts expect that Coherus BioSciences will post -1.16 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its stake in Coherus BioSciences by 694.2% during the 1st quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock valued at $827,000 after acquiring an additional 302,570 shares in the last quarter. Virtu Financial LLC bought a new stake in Coherus BioSciences in the 1st quarter worth about $94,000. AQR Capital Management LLC bought a new position in shares of Coherus BioSciences during the 2nd quarter worth approximately $1,246,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Coherus BioSciences in the 1st quarter worth approximately $108,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Coherus BioSciences during the first quarter valued at approximately $349,000. 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.