Coherus BioSciences (NASDAQ:CHRS) Lowered to "Hold" at StockNews.com

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

CHRS has been the topic of several other reports. UBS Group downgraded Coherus BioSciences from a "buy" rating to a "neutral" rating and cut their target price for the stock from $4.00 to $1.50 in a report on Friday, August 16th. HC Wainwright reissued a "buy" rating and set a $12.00 target price on shares of Coherus BioSciences in a research report on Monday, September 16th. Finally, Robert W. Baird dropped their price target on shares of Coherus BioSciences from $9.00 to $8.00 and set an "outperform" rating on the stock in a research report on Monday, July 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.10.

Coherus BioSciences Stock Up 4.1 %

Shares of CHRS stock traded up $0.03 during mid-day trading on Friday, reaching $0.88. 1,952,250 shares of the stock traded hands, compared to its average volume of 2,671,126. The company has a market cap of $101.29 million, a price-to-earnings ratio of -1.13 and a beta of 0.65. The stock's fifty day simple moving average is $1.18 and its two-hundred day simple moving average is $1.61. Coherus BioSciences has a 1-year low of $0.84 and a 1-year high of $3.73.

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) last posted its earnings results 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 business had revenue of $64.98 million for the quarter, compared to analyst estimates of $57.08 million. On average, equities research analysts anticipate that Coherus BioSciences will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Coherus BioSciences

Several institutional investors have recently made changes to their positions in CHRS. Price T Rowe Associates Inc. MD raised its stake in Coherus BioSciences by 32.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company's stock worth $74,000 after buying an additional 7,608 shares during the period. Hsbc Holdings PLC grew its position in Coherus BioSciences by 10.6% in the 2nd quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company's stock valued at $179,000 after purchasing an additional 9,905 shares during the period. Los Angeles Capital Management LLC increased its stake in Coherus BioSciences by 6.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 209,460 shares of the biotechnology company's stock valued at $362,000 after purchasing an additional 13,250 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake 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 valued at $36,000 after buying an additional 19,912 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Coherus BioSciences during the first quarter valued at about $56,000. Institutional investors and hedge funds own 72.82% of the company's stock.

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.