HC Wainwright Reiterates Buy Rating for Coherus BioSciences (NASDAQ:CHRS)

HC Wainwright reiterated their buy rating on shares of Coherus BioSciences (NASDAQ:CHRS) in a research report released on Thursday,Benzinga reports. They currently have a $12.00 price objective on the biotechnology company’s stock.

CHRS has been the subject of several other reports. StockNews.com cut Coherus BioSciences from a “buy” rating to a “hold” rating in a research report on Saturday, October 19th. UBS Group cut shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $4.00 to $1.50 in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.13.

Coherus BioSciences Stock Performance

Shares of CHRS stock opened at $0.82 on Thursday. The company has a market capitalization of $93.90 million, a P/E ratio of -10.19 and a beta of 0.69. Coherus BioSciences has a 52 week low of $0.66 and a 52 week high of $3.70. The company’s 50 day moving average price is $1.00 and its two-hundred day moving average price is $1.45.

Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.10. The company had revenue of $64.98 million during the quarter, compared to the consensus estimate of $57.08 million. Analysts forecast that Coherus BioSciences will post -1.16 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its position in shares of Coherus BioSciences by 694.2% during the 1st quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock worth $827,000 after purchasing an additional 302,570 shares during the last quarter. Virtu Financial LLC acquired a new position in Coherus BioSciences during the first quarter worth $94,000. AQR Capital Management LLC bought a new stake in Coherus BioSciences during the second quarter worth $1,246,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Coherus BioSciences during the first quarter worth $108,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Coherus BioSciences in the first quarter valued at $349,000. 72.82% of the stock is owned by institutional investors and hedge funds.

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.