Coherus BioSciences (NASDAQ:CHRS) Stock Rating Lowered by StockNews.com

Coherus BioSciences (NASDAQ:CHRS) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other equities analysts also recently issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price 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 decreased 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 for the company in a research report 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.10.

Coherus BioSciences Stock Performance

Shares of NASDAQ CHRS opened at $0.88 on Friday. Coherus BioSciences has a fifty-two week low of $0.84 and a fifty-two week high of $3.73. The company has a 50 day simple moving average of $1.19 and a two-hundred day simple moving average of $1.62. The company has a market capitalization of $101.29 million, a price-to-earnings ratio of -1.13 and a beta of 0.65.

Coherus BioSciences (NASDAQ:CHRS) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.10. The business had revenue of $64.98 million for the quarter, compared to the consensus estimate of $57.08 million. On average, analysts forecast that Coherus BioSciences will post -1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coherus BioSciences

Large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its position in Coherus BioSciences by 2,672.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 19,912 shares during the period. Bayesian Capital Management LP bought a new stake in Coherus BioSciences in the 1st quarter worth approximately $56,000. TIAA Trust National Association bought a new stake in Coherus BioSciences in the 2nd quarter worth approximately $47,000. Price T Rowe Associates Inc. MD grew its position in Coherus BioSciences by 32.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 7,608 shares during the period. Finally, Virtu Financial LLC bought a new stake in Coherus BioSciences in the 1st quarter worth approximately $94,000. Institutional investors own 72.82% of the company’s stock.

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.