Coherus BioSciences, Inc. (NASDAQ:CHRS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Coherus BioSciences, Inc. (NASDAQ:CHRS) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $9.29.

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

Hedge Funds Weigh In On Coherus BioSciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Eagle Bay Advisors LLC grew its holdings in shares of Coherus BioSciences by 136.1% during the 2nd quarter. Eagle Bay Advisors LLC now owns 3,891 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 2,243 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Coherus BioSciences by 1,461.0% during the 1st quarter. Captrust Financial Advisors now owns 2,404 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 2,250 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in shares of Coherus BioSciences during the 3rd quarter valued at $39,000. Princeton Global Asset Management LLC bought a new position in shares of Coherus BioSciences during the 3rd quarter valued at $39,000. Finally, TrinityPoint Wealth LLC bought a new position in shares of Coherus BioSciences during the 4th quarter valued at $40,000. Institutional investors own 72.82% of the company’s stock.

Coherus BioSciences Price Performance

Shares of NASDAQ CHRS opened at $2.15 on Thursday. Coherus BioSciences has a 1 year low of $1.43 and a 1 year high of $8.34. The stock has a market capitalization of $242.33 million, a P/E ratio of -0.84 and a beta of 0.54. The company has a 50-day moving average price of $2.41 and a 200-day moving average price of $2.55.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings results on Wednesday, March 13th. The biotechnology company reported ($0.72) earnings per share 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. As a group, equities research analysts anticipate that Coherus BioSciences will post -0.56 earnings per share for the current fiscal year.

Coherus BioSciences Company Profile

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.