HC Wainwright Reiterates "Buy" Rating for Coherus BioSciences (NASDAQ:CHRS)

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

A number of other research analysts also recently issued reports on CHRS. StockNews.com downgraded Coherus BioSciences from a "buy" rating to a "hold" rating in a report on Friday, September 6th. Robert W. Baird cut their target price on Coherus BioSciences from $9.00 to $8.00 and set an "outperform" rating on the stock in a research note on Monday, July 1st. Finally, UBS Group lowered shares of Coherus BioSciences from a "buy" rating to a "neutral" rating and decreased their price target for the company from $4.00 to $1.50 in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $6.92.

Coherus BioSciences Stock Down 19.2 %

NASDAQ:CHRS traded down $0.25 during mid-day trading on Monday, reaching $1.05. The company's stock had a trading volume of 10,381,431 shares, compared to its average volume of 2,636,976. Coherus BioSciences has a 1 year low of $1.01 and a 1 year high of $4.91. The stock has a fifty day moving average of $1.44 and a 200-day moving average of $1.83. The firm has a market capitalization of $120.46 million, a PE ratio of -1.35 and a beta of 0.66.

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.10. The business had revenue of $64.98 million during the quarter, compared to analysts' expectations of $57.08 million. On average, analysts expect that Coherus BioSciences will post -1.07 earnings per share for the current year.

Institutional Investors Weigh In On Coherus BioSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new stake in shares of Coherus BioSciences during the second quarter worth $1,246,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Coherus BioSciences during the 4th quarter worth approximately $1,043,000. BNP Paribas Financial Markets grew its stake in shares of Coherus BioSciences by 694.2% during the 1st quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company's stock worth $827,000 after purchasing an additional 302,570 shares during the period. Marshall Wace LLP increased its holdings in shares of Coherus BioSciences by 177.3% during the 2nd 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 in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Coherus BioSciences by 159.2% in the 2nd quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company's stock valued at $683,000 after purchasing an additional 242,500 shares during the period. 72.82% of the stock is currently owned by hedge funds and other institutional investors.

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.