Coherus Biosciences (CHRS) Stock Price Up -1.8%
Coherus Biosciences Inc (NASDAQ:CHRS) rose 1.8% on Wednesday . The stock traded as high as $10.35 and last traded at $9.87. Approximately 161,176 shares traded hands during trading, a decline of 79% from the average daily volume of 749,862 shares. The stock had previously closed at $10.05.
CHRS has been the subject of several recent research reports. Citigroup reaffirmed a “buy” rating and set a $23.00 price target on shares of Coherus Biosciences in a report on Tuesday, November 7th. Zacks Investment Research downgraded Coherus Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. ValuEngine raised Coherus Biosciences from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, BidaskClub raised Coherus Biosciences from a “hold” rating to a “buy” rating in a report on Saturday, January 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $29.67.
The company has a debt-to-equity ratio of 1.84, a quick ratio of 5.46 and a current ratio of 5.46.
A number of institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank lifted its holdings in Coherus Biosciences by 10.5% in the fourth quarter. Swiss National Bank now owns 57,700 shares of the biotechnology company’s stock valued at $508,000 after acquiring an additional 5,500 shares during the period. Teacher Retirement System of Texas acquired a new stake in Coherus Biosciences in the fourth quarter valued at $101,000. Fox Run Management L.L.C. acquired a new stake in Coherus Biosciences in the fourth quarter valued at $228,000. Schwab Charles Investment Management Inc. lifted its holdings in Coherus Biosciences by 20.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 189,697 shares of the biotechnology company’s stock valued at $1,670,000 after acquiring an additional 32,016 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Coherus Biosciences in the fourth quarter valued at $135,000. 78.87% of the stock is owned by institutional investors.
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About Coherus Biosciences
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.
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