Coherus BioSciences' (CHRS) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Coherus BioSciences (NASDAQ:CHRS - Free Report) in a report published on Thursday morning,Benzinga reports. They currently have a $7.00 target price on the biotechnology company's stock.

A number of other research firms have also recently commented on CHRS. StockNews.com cut shares of Coherus BioSciences from a "buy" rating to a "hold" rating in a research report on Saturday, October 19th. Robert W. Baird increased their price objective on Coherus BioSciences from $4.00 to $6.00 and gave the company an "outperform" rating in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $5.38.

Coherus BioSciences Stock Performance

CHRS traded down $0.02 on Thursday, hitting $1.29. The company had a trading volume of 3,368,690 shares, compared to its average volume of 1,888,518. The stock has a market capitalization of $148.28 million, a price-to-earnings ratio of -16.19 and a beta of 0.82. The stock has a fifty day moving average price of $1.40 and a 200-day moving average price of $1.27. Coherus BioSciences has a 12-month low of $0.66 and a 12-month high of $2.87.

Institutional Investors Weigh In On Coherus BioSciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Systematic Financial Management LP purchased a new position in Coherus BioSciences in the 3rd quarter worth $28,000. Steph & Co. purchased a new position in shares of Coherus BioSciences in the fourth quarter worth about $34,000. Hsbc Holdings PLC raised 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 worth $179,000 after purchasing an additional 9,905 shares during the last quarter. FMR LLC lifted its holdings in shares of Coherus BioSciences by 21.1% during the third quarter. FMR LLC now owns 225,113 shares of the biotechnology company's stock worth $234,000 after purchasing an additional 39,204 shares during the period. Finally, Rhumbline Advisers boosted its position in Coherus BioSciences by 19.5% in the second quarter. Rhumbline Advisers now owns 154,904 shares of the biotechnology company's stock valued at $268,000 after buying an additional 25,241 shares during the last quarter. 72.82% of the stock is currently owned by institutional investors and hedge funds.

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.