Coherus BioSciences, Inc. (NASDAQ:CHRS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $9.29.

CHRS has been the topic of several research reports. HC Wainwright cut their price objective on shares of Coherus BioSciences from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th. Truist Financial cut their price objective on shares of Coherus BioSciences from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Finally, Robert W. Baird cut their price objective on shares of Coherus BioSciences from $11.00 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 23rd.

Coherus BioSciences Stock Performance

CHRS opened at $2.15 on Thursday. The stock has a market capitalization of $242.33 million, a P/E ratio of -0.84 and a beta of 0.54. Coherus BioSciences has a 12 month low of $1.43 and a 12 month high of $8.34. The firm’s fifty day simple moving average is $2.41 and its 200 day simple moving average is $2.55.

Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings data on Wednesday, March 13th. The biotechnology company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.39). The company had revenue of $91.52 million for the quarter, compared to analyst estimates of $105.30 million. On average, equities research analysts predict that Coherus BioSciences will post -0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Coherus BioSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC raised its holdings in shares of Coherus BioSciences by 90.9% in the 3rd quarter. Hsbc Holdings PLC now owns 83,329 shares of the biotechnology company’s stock valued at $313,000 after purchasing an additional 39,669 shares during the period. Vanguard Group Inc. raised its holdings in shares of Coherus BioSciences by 10.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,782,127 shares of the biotechnology company’s stock valued at $36,585,000 after purchasing an additional 932,476 shares during the period. Swiss National Bank raised its holdings in shares of Coherus BioSciences by 16.6% in the 3rd quarter. Swiss National Bank now owns 209,100 shares of the biotechnology company’s stock valued at $782,000 after purchasing an additional 29,800 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Coherus BioSciences in the 3rd quarter valued at about $203,000. Finally, Brandywine Global Investment Management LLC raised its holdings in shares of Coherus BioSciences by 64.7% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 666,245 shares of the biotechnology company’s stock valued at $2,492,000 after purchasing an additional 261,800 shares during the period. 72.82% of the stock is owned by institutional investors.

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.