HC Wainwright Reiterates “Buy” Rating for Coherus BioSciences (NASDAQ:CHRS)

Coherus BioSciences (NASDAQ:CHRS)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $7.00 target price on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 363.58% from the company’s previous close.

Several other equities research analysts have also recently commented on CHRS. StockNews.com cut Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. Robert W. Baird decreased their price target on shares of Coherus BioSciences from $8.00 to $4.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, UBS Group lowered Coherus BioSciences from a “buy” rating to a “neutral” rating and dropped their target price for the company from $4.00 to $1.50 in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.38.

Coherus BioSciences Stock Down 11.7 %

CHRS opened at $1.51 on Wednesday. Coherus BioSciences has a twelve month low of $0.66 and a twelve month high of $3.70. The company has a fifty day moving average of $0.97 and a 200-day moving average of $1.32. The stock has a market cap of $173.97 million, a PE ratio of -18.88 and a beta of 0.86.

Institutional Trading of Coherus BioSciences

A number of large investors have recently added to or reduced their stakes in CHRS. Virtu Financial LLC bought a new stake in Coherus BioSciences during the 1st quarter valued at $94,000. AQR Capital Management LLC purchased a new position in Coherus BioSciences during the second quarter valued at approximately $1,246,000. Los Angeles Capital Management LLC raised its position in shares of Coherus BioSciences by 344.1% in the third quarter. Los Angeles Capital Management LLC now owns 930,132 shares of the biotechnology company’s stock worth $967,000 after buying an additional 720,672 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Coherus BioSciences by 26.0% during 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 acquiring an additional 80,222 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Coherus BioSciences by 19.5% during the second quarter. Rhumbline Advisers now owns 154,904 shares of the biotechnology company’s stock valued at $268,000 after purchasing an additional 25,241 shares during the last quarter. Hedge funds and other institutional investors own 72.82% of the company’s stock.

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.