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

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

Several other research analysts also recently issued reports on the company. Robert W. Baird reduced their price objective on Coherus BioSciences from $9.00 to $8.00 and set an outperform rating on the stock in a report on Monday, July 1st. Truist Financial reduced their price objective on Coherus BioSciences from $8.00 to $7.00 and set a buy rating on the stock in a report on Monday, May 13th. UBS Group downgraded Coherus BioSciences from a buy rating to a neutral rating and reduced their price objective for the stock from $4.00 to $1.50 in a report on Friday, August 16th. Finally, HC Wainwright reaffirmed a buy rating and set a $12.00 price objective on shares of Coherus BioSciences in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and four 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 target price of $6.92.

Coherus BioSciences Price Performance

Shares of CHRS opened at $1.24 on Friday. The company has a market capitalization of $142.26 million, a P/E ratio of -1.59 and a beta of 0.66. Coherus BioSciences has a one year low of $1.20 and a one year high of $5.22. The business’s 50 day simple moving average is $1.45 and its 200-day simple moving average is $1.87.

Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.10. The firm had revenue of $64.98 million for the quarter, compared to analyst estimates of $57.08 million. On average, sell-side analysts anticipate that Coherus BioSciences will post -1.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Coherus BioSciences by 32.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 7,608 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Coherus BioSciences by 66.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 21,426 shares of the biotechnology company’s stock valued at $51,000 after buying an additional 8,546 shares in the last quarter. Hsbc Holdings PLC raised its stake in Coherus BioSciences by 10.6% during the 2nd quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock worth $179,000 after buying an additional 9,905 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Coherus BioSciences by 38.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,723 shares of the biotechnology company’s stock worth $122,000 after acquiring an additional 10,238 shares in the last quarter. Finally, Jump Financial LLC grew its stake in Coherus BioSciences by 50.6% in the fourth quarter. Jump Financial LLC now owns 33,267 shares of the biotechnology company’s stock valued at $111,000 after acquiring an additional 11,180 shares during the period. Institutional investors and hedge funds 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.