FY2024 EPS Estimates for Coherus BioSciences, Inc. (NASDAQ:CHRS) Reduced by HC Wainwright

Coherus BioSciences, Inc. (NASDAQ:CHRS) – Equities research analysts at HC Wainwright dropped their FY2024 earnings per share (EPS) estimates for shares of Coherus BioSciences in a research note issued on Monday, September 16th. HC Wainwright analyst D. Tsao now expects that the biotechnology company will post earnings of ($1.16) per share for the year, down from their prior estimate of ($1.07). HC Wainwright currently has a “Buy” rating and a $12.00 price target on the stock. The consensus estimate for Coherus BioSciences’ current full-year earnings is ($1.07) per share. HC Wainwright also issued estimates for Coherus BioSciences’ Q4 2024 earnings at ($0.25) EPS.

Other equities analysts have also recently issued reports about the company. UBS Group cut Coherus BioSciences from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $4.00 to $1.50 in a report on Friday, August 16th. Robert W. Baird dropped their target price on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Monday, July 1st. Finally, StockNews.com cut Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.92.

Coherus BioSciences Stock Up 1.0 %

Shares of NASDAQ CHRS opened at $1.05 on Wednesday. The firm has a market capitalization of $120.46 million, a P/E ratio of -1.35 and a beta of 0.66. The stock’s 50-day simple moving average is $1.42 and its two-hundred day simple moving average is $1.81. Coherus BioSciences has a twelve month low of $1.01 and a twelve month high of $4.73.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.10. The company had revenue of $64.98 million for the quarter, compared to the consensus estimate of $57.08 million.

Institutional Trading of Coherus BioSciences

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its holdings in shares of Coherus BioSciences by 2,672.8% in the second quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 19,912 shares during the period. TrinityPoint Wealth LLC bought a new stake in Coherus BioSciences during the fourth quarter valued at about $40,000. TIAA Trust National Association bought a new stake in Coherus BioSciences during the second quarter valued at about $47,000. China Universal Asset Management Co. Ltd. grew its holdings in Coherus BioSciences by 66.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 21,426 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 8,546 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in Coherus BioSciences during the first quarter valued at about $56,000. 72.82% of the stock is currently owned by hedge funds and other 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.