Coherus BioSciences (NASDAQ:CHRS) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Coherus BioSciences, Inc. (NASDAQ:CHRS) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.26 and traded as high as $1.39. Coherus BioSciences shares last traded at $1.35, with a volume of 2,880,481 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CHRS shares. Robert W. Baird upped their price target on Coherus BioSciences from $4.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Coherus BioSciences in a research note on Thursday, January 23rd. Finally, StockNews.com downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.38.

Coherus BioSciences Trading Up 10.7 %

The stock has a market capitalization of $155.53 million, a price-to-earnings ratio of -16.88 and a beta of 0.82. The stock has a fifty day moving average of $1.45 and a two-hundred day moving average of $1.26.

Institutional Trading of Coherus BioSciences

A number of hedge funds and other institutional investors have recently modified their holdings of CHRS. Steph & Co. bought a new position in Coherus BioSciences during the fourth quarter worth about $34,000. Systematic Financial Management LP bought a new stake in shares of Coherus BioSciences in the third quarter valued at approximately $28,000. Savant Capital LLC bought a new stake in shares of Coherus BioSciences in the fourth quarter valued at approximately $130,000. Hsbc Holdings PLC boosted its stake in shares of Coherus BioSciences by 10.6% in the second quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock valued at $179,000 after buying an additional 9,905 shares during the period. Finally, FMR LLC boosted its stake in shares of Coherus BioSciences by 21.1% in the third quarter. FMR LLC now owns 225,113 shares of the biotechnology company’s stock valued at $234,000 after buying an additional 39,204 shares during the period. Institutional investors and hedge funds 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.