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

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $6.92.

CHRS has been the topic of a number of recent research reports. Truist Financial lowered their target price on Coherus BioSciences from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. UBS Group lowered Coherus BioSciences from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $4.00 to $1.50 in a research note on Friday. StockNews.com lowered Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Robert W. Baird lowered their price objective on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a research note on Monday, July 1st. Finally, HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Coherus BioSciences in a research note on Monday, August 5th.

Coherus BioSciences Trading Down 18.7 %

Shares of NASDAQ CHRS opened at $1.26 on Wednesday. The firm has a market cap of $144.55 million, a P/E ratio of -1.62 and a beta of 0.60. Coherus BioSciences has a 1-year low of $1.22 and a 1-year high of $5.47. The business’s 50 day moving average is $1.55 and its 200-day moving average is $2.00.

Institutional Investors Weigh In On Coherus BioSciences

A number of large investors have recently modified their holdings of the business. CM Management LLC boosted its holdings in shares of Coherus BioSciences by 10.0% in the 2nd quarter. CM Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $1,903,000 after purchasing an additional 100,000 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Coherus BioSciences in the 2nd quarter valued at $1,246,000. Marshall Wace LLP boosted its holdings in shares of Coherus BioSciences by 177.3% in the 2nd quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock valued at $727,000 after purchasing an additional 268,763 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Coherus BioSciences by 159.2% in the 2nd quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock valued at $683,000 after purchasing an additional 242,500 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Coherus BioSciences by 26.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 389,225 shares of the biotechnology company’s stock valued at $673,000 after purchasing an additional 80,222 shares in the last quarter. Institutional investors and hedge funds own 72.82% of the company’s stock.

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.