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

Coherus BioSciences (NASDAQ:CHRS - Get Free Report)'s stock had its "buy" rating reissued by research analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They presently have a $12.00 target price on the biotechnology company's stock.

CHRS has been the subject of a number of other research reports. StockNews.com cut Coherus BioSciences from a "buy" rating to a "hold" rating in a research report on Saturday, October 19th. UBS Group lowered Coherus BioSciences from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $4.00 to $1.50 in a research note on Friday, August 16th. Three 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 has an average rating of "Moderate Buy" and an average price target of $7.13.

Coherus BioSciences Stock Up 16.8 %

NASDAQ:CHRS traded up $0.12 during mid-day trading on Thursday, reaching $0.85. The company's stock had a trading volume of 8,635,819 shares, compared to its average volume of 2,665,384. The stock has a fifty day moving average of $1.02 and a 200-day moving average of $1.47. Coherus BioSciences has a 1 year low of $0.66 and a 1 year high of $3.70.

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.30) by $0.10. The firm had revenue of $64.98 million during the quarter, compared to analysts' expectations of $57.08 million. As a group, research analysts anticipate that Coherus BioSciences will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Coherus BioSciences

Several large investors have recently made changes to their positions in the company. 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 acquiring an additional 720,672 shares during the period. AQR Capital Management LLC purchased a new position in Coherus BioSciences during the second quarter worth approximately $1,246,000. Marshall Wace LLP grew its holdings in Coherus BioSciences by 177.3% in the second quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company's stock valued at $727,000 after purchasing an additional 268,763 shares during the period. XTX Topco Ltd increased its position in shares of Coherus BioSciences by 304.9% in the second quarter. XTX Topco Ltd now owns 271,433 shares of the biotechnology company's stock valued at $470,000 after buying an additional 204,391 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Coherus BioSciences by 10.6% during the 2nd 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 in the last quarter. 72.82% of the stock is currently owned by institutional investors and hedge funds.

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.