Hsbc Holdings PLC Has $179,000 Stock Holdings in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Hsbc Holdings PLC increased its position in Coherus BioSciences, Inc. (NASDAQ:CHRS) by 10.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,183 shares of the biotechnology company’s stock after purchasing an additional 9,905 shares during the quarter. Hsbc Holdings PLC owned approximately 0.09% of Coherus BioSciences worth $179,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in shares of Coherus BioSciences by 159.2% during the 2nd quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock worth $683,000 after buying an additional 242,500 shares during the period. Los Angeles Capital Management LLC grew its holdings in Coherus BioSciences by 6.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 209,460 shares of the biotechnology company’s stock worth $362,000 after acquiring an additional 13,250 shares during the period. CM Management LLC raised its position in shares of Coherus BioSciences by 10.0% during the 2nd quarter. CM Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $1,903,000 after acquiring an additional 100,000 shares during the last quarter. TIAA Trust National Association acquired a new position in shares of Coherus BioSciences in the 2nd quarter valued at $47,000. Finally, Rhumbline Advisers boosted its position in shares of Coherus BioSciences by 19.5% in the 2nd quarter. Rhumbline Advisers now owns 154,904 shares of the biotechnology company’s stock worth $268,000 after purchasing an additional 25,241 shares during the last quarter. 72.82% of the stock is owned by institutional investors.

Coherus BioSciences Stock Performance

Shares of CHRS opened at $1.04 on Friday. The firm has a market cap of $119.32 million, a P/E ratio of -1.33 and a beta of 0.65. Coherus BioSciences, Inc. has a twelve month low of $0.97 and a twelve month high of $3.98. The firm’s 50 day moving average price is $1.27 and its two-hundred day moving average price is $1.71.

Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.10. The company had revenue of $64.98 million during the quarter, compared to the consensus estimate of $57.08 million. On average, sell-side analysts anticipate that Coherus BioSciences, Inc. will post -1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com lowered Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Coherus BioSciences in a research note on Monday, September 16th. UBS Group downgraded shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and lowered their target price for the company from $4.00 to $1.50 in a research note on Friday, August 16th. Finally, Robert W. Baird reduced their price target on shares of Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Monday, July 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Coherus BioSciences presently has an average rating of “Moderate Buy” and an average price target of $6.92.

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.