Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) have received a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $34.70.

Several research firms recently weighed in on CHRS. J P Morgan Chase & Co reissued an “overweight” rating and set a $25.00 price objective (down previously from $32.00) on shares of Coherus BioSciences in a research note on Tuesday, August 8th. Robert W. Baird reduced their price objective on shares of Coherus BioSciences from $40.00 to $37.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 13th. Cowen and Company reissued an “outperform” rating and set a $45.00 price objective on shares of Coherus BioSciences in a research note on Tuesday, June 13th. BMO Capital Markets reduced their price objective on shares of Coherus BioSciences from $54.00 to $43.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 13th. Finally, ValuEngine lowered shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th.

In other Coherus BioSciences news, insider Alan C. Herman sold 17,535 shares of Coherus BioSciences stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $15.02, for a total value of $263,375.70. Following the transaction, the insider now owns 49,651 shares of the company’s stock, valued at $745,758.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 32.88% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Jennison Associates LLC raised its stake in shares of Coherus BioSciences by 0.4% in the second quarter. Jennison Associates LLC now owns 18,200 shares of the biotechnology company’s stock worth $261,000 after buying an additional 69 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Coherus BioSciences by 0.9% in the second quarter. Wells Fargo & Company MN now owns 29,116 shares of the biotechnology company’s stock worth $418,000 after buying an additional 253 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Coherus BioSciences by 1.3% in the first quarter. Nationwide Fund Advisors now owns 33,982 shares of the biotechnology company’s stock worth $719,000 after buying an additional 421 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Coherus BioSciences by 12.6% in the second quarter. Legal & General Group Plc now owns 9,341 shares of the biotechnology company’s stock worth $134,000 after buying an additional 1,046 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in shares of Coherus BioSciences by 0.3% in the first quarter. Pictet Asset Management Ltd. now owns 441,788 shares of the biotechnology company’s stock worth $9,344,000 after buying an additional 1,432 shares in the last quarter. 72.41% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Coherus BioSciences (CHRS) traded up 0.35% on Wednesday, hitting $14.15. The company had a trading volume of 372,212 shares. The stock’s market cap is $726.55 million. The company has a 50-day moving average of $13.05 and a 200 day moving average of $18.55. Coherus BioSciences has a 12 month low of $10.80 and a 12 month high of $31.98.

Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($1.08) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.21. Coherus BioSciences had a negative net margin of 73.89% and a negative return on equity of 307.41%. The company had revenue of $1.40 million during the quarter. Analysts anticipate that Coherus BioSciences will post ($5.13) EPS for the current fiscal year.

Coherus BioSciences Company Profile

Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is engaged in the business of developing and commercializing biosimilar products. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta) and bevacizumab (Avastin); Immunology (Anti-TNF) biosimilar candidates etanercept (Enbrel) and adalimumab (Humira); Ophthalmology biosimilar candidate ranibizumab (Lucentis), and Multiple sclerosis small molecule therapeutic candidate, CHS-131.

Analyst Recommendations for Coherus BioSciences (NASDAQ:CHRS)

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