StockNews.com Downgrades Coherus BioSciences (NASDAQ:CHRS) to Sell

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Tuesday.

Separately, HC Wainwright reiterated a "buy" rating and issued a $7.00 price target on shares of Coherus BioSciences in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $5.38.

Coherus BioSciences Stock Up 10.9 %

CHRS stock traded up $0.11 during trading on Tuesday, hitting $1.12. The company had a trading volume of 3,008,677 shares, compared to its average volume of 2,722,177. The stock has a market cap of $129.80 million, a price-to-earnings ratio of -14.00 and a beta of 1.01. The firm has a 50-day moving average price of $0.98 and a 200-day moving average price of $1.12. Coherus BioSciences has a 12 month low of $0.66 and a 12 month high of $2.43.

Hedge Funds Weigh In On Coherus BioSciences

Hedge funds have recently added to or reduced their stakes in the stock. Steph & Co. acquired a new stake in Coherus BioSciences in the fourth quarter worth $34,000. Bank of Montreal Can acquired a new position in Coherus BioSciences in the fourth quarter valued at about $34,000. Intech Investment Management LLC bought a new stake in shares of Coherus BioSciences in the fourth quarter worth about $38,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Coherus BioSciences by 97.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,847 shares of the biotechnology company's stock worth $43,000 after purchasing an additional 15,214 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Coherus BioSciences during the 4th quarter valued at about $52,000. 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.