Coherus BioSciences (NASDAQ:CHRS) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Coherus BioSciences, Inc. (NASDAQ:CHRS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.27 and traded as high as $1.66. Coherus BioSciences shares last traded at $1.57, with a volume of 1,327,378 shares.

Wall Street Analysts Forecast Growth

CHRS has been the topic of a number of research reports. StockNews.com lowered Coherus BioSciences from a "buy" rating to a "hold" rating in a report on Saturday, October 19th. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Coherus BioSciences in a research report on Wednesday, December 4th. Finally, Robert W. Baird increased their target price on shares of Coherus BioSciences from $4.00 to $6.00 and gave the stock an "outperform" rating in a research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5.38.

Coherus BioSciences Stock Down 3.8 %

The stock has a 50 day moving average of $1.26 and a 200 day moving average of $1.27. The firm has a market cap of $173.97 million, a price-to-earnings ratio of -18.88 and a beta of 0.82.

Institutional Investors Weigh In On Coherus BioSciences

A number of large investors have recently modified their holdings of CHRS. Systematic Financial Management LP bought a new stake in shares of Coherus BioSciences during the 3rd quarter worth $28,000. Hsbc Holdings PLC raised its position in Coherus BioSciences by 10.6% during the 2nd 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 Coherus BioSciences by 21.1% during the 3rd quarter. FMR LLC now owns 225,113 shares of the biotechnology company's stock worth $234,000 after buying an additional 39,204 shares during the period. Rhumbline Advisers grew 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 valued at $268,000 after buying an additional 25,241 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Coherus BioSciences by 6.8% in the second quarter. Los Angeles Capital Management LLC now owns 209,460 shares of the biotechnology company's stock valued at $362,000 after buying an additional 13,250 shares during the period. Institutional investors and hedge funds 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.