Coherus BioSciences (NASDAQ:CHRS) Downgraded by UBS Group

UBS Group lowered shares of Coherus BioSciences (NASDAQ:CHRS) from a buy rating to a neutral rating in a report released on Friday, Marketbeat.com reports. They currently have $1.50 price target on the biotechnology company’s stock, down from their previous price target of $4.00.

A number of other equities analysts have also weighed in on CHRS. HC Wainwright restated a buy rating and issued a $12.00 target price on shares of Coherus BioSciences in a research note on Monday, August 5th. StockNews.com cut shares of Coherus BioSciences from a buy rating to a hold rating in a research report on Friday, July 26th. Truist Financial lowered their target price on shares of Coherus BioSciences from $8.00 to $7.00 and set a buy rating on the stock in a research note on Monday, May 13th. Finally, Robert W. Baird cut their price target on shares of Coherus BioSciences from $9.00 to $8.00 and set an outperform rating for the company in a research note on Monday, July 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $6.92.

Coherus BioSciences Price Performance

Shares of NASDAQ:CHRS opened at $1.26 on Friday. The firm has a fifty day moving average price of $1.55 and a two-hundred day moving average price of $2.00. The company has a market cap of $144.55 million, a price-to-earnings ratio of -1.62 and a beta of 0.60. Coherus BioSciences has a one year low of $1.22 and a one year high of $5.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CHRS. BNP Paribas Financial Markets boosted its stake in shares of Coherus BioSciences by 694.2% in the 1st quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock valued at $827,000 after purchasing an additional 302,570 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Coherus BioSciences by 82.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 136,820 shares of the biotechnology company’s stock valued at $456,000 after buying an additional 61,722 shares during the period. Nomura Holdings Inc. grew its stake in shares of Coherus BioSciences by 225.1% during the fourth quarter. Nomura Holdings Inc. now owns 68,300 shares of the biotechnology company’s stock valued at $227,000 after buying an additional 47,290 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Coherus BioSciences in the first quarter worth about $94,000. Finally, Birchview Capital LP bought a new stake in shares of Coherus BioSciences in the 4th quarter valued at about $366,000. 72.82% of the stock is currently 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.