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

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

Several other brokerages have also issued reports on CHRS. Truist Financial dropped their price target on Coherus BioSciences from $8.00 to $7.00 and set a buy rating for the company in a research note on Monday, May 13th. HC Wainwright reaffirmed a buy rating and issued a $12.00 target price on shares of Coherus BioSciences in a research note on Friday, May 24th. Finally, Robert W. Baird reduced their price target on shares of Coherus BioSciences from $9.00 to $8.00 and set an outperform rating on the stock in a research report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $8.00.

Coherus BioSciences Stock Performance

CHRS stock opened at $1.72 on Friday. Coherus BioSciences has a 1-year low of $1.25 and a 1-year high of $5.47. The company’s 50 day moving average is $1.70 and its 200 day moving average is $2.12.

Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.33). The firm had revenue of $77.06 million for the quarter, compared to analysts’ expectations of $102.00 million. During the same quarter last year, the firm earned ($0.89) earnings per share. Research analysts forecast that Coherus BioSciences will post -1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coherus BioSciences

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Coherus BioSciences by 10.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,782,127 shares of the biotechnology company’s stock worth $36,585,000 after purchasing an additional 932,476 shares during the period. CM Management LLC increased its stake in shares of Coherus BioSciences by 21.4% in the first quarter. CM Management LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $2,390,000 after buying an additional 176,000 shares during the period. Bank of New York Mellon Corp raised its holdings in 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 last quarter. BNP Paribas Financial Markets boosted its position 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 buying an additional 302,570 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Coherus BioSciences by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 337,748 shares of the biotechnology company’s stock worth $1,263,000 after acquiring an additional 14,209 shares during the last quarter. 72.82% of the stock is currently owned by hedge funds and other institutional investors.

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.