Brokerages Set Coherus BioSciences, Inc. (NASDAQ:CHRS) Price Target at $7.13

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the five ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $7.13.

Several analysts recently commented on CHRS shares. StockNews.com lowered Coherus BioSciences from a "buy" rating to a "hold" rating in a report on Saturday, October 19th. HC Wainwright reiterated a "buy" rating and set a $12.00 target price on shares of Coherus BioSciences in a research report on Monday, September 16th. UBS Group downgraded Coherus BioSciences from a "buy" rating to a "neutral" rating and lowered their target price for the company from $4.00 to $1.50 in a research report on Friday, August 16th. Finally, Robert W. Baird lowered their target price on Coherus BioSciences from $9.00 to $8.00 and set an "outperform" rating on the stock in a research report on Monday, July 1st.

Institutional Investors Weigh In On Coherus BioSciences

Several large investors have recently made changes to their positions in CHRS. Nisa Investment Advisors LLC increased its holdings in shares of Coherus BioSciences by 2,672.8% in the second 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 last quarter. TIAA Trust National Association bought a new stake in shares of Coherus BioSciences in the second quarter worth about $47,000. Bayesian Capital Management LP bought a new stake in shares of Coherus BioSciences in the first quarter worth about $56,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Coherus BioSciences by 32.7% in the first 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 last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Coherus BioSciences in the first quarter worth about $94,000. 72.82% of the stock is owned by institutional investors.

Coherus BioSciences Price Performance

Shares of CHRS traded down $0.06 during trading hours on Monday, hitting $0.72. The stock had a trading volume of 3,885,242 shares, compared to its average volume of 2,646,441. Coherus BioSciences has a 12 month low of $0.72 and a 12 month high of $3.73. The firm has a market capitalization of $82.77 million, a PE ratio of -0.93 and a beta of 0.65. The stock has a fifty day moving average price of $1.11 and a 200 day moving average price of $1.53.

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

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.