Coherus BioSciences, Inc. (NASDAQ:CHRS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $9.29.

CHRS has been the subject of a number of recent research reports. Robert W. Baird lowered their price target on shares of Coherus BioSciences from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Tuesday, January 23rd. Truist Financial decreased their price target on shares of Coherus BioSciences from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Finally, HC Wainwright cut their price target on Coherus BioSciences from $13.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, March 20th.

Hedge Funds Weigh In On Coherus BioSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHRS. Dorsey & Whitney Trust CO LLC purchased a new stake in Coherus BioSciences in the third quarter valued at $39,000. Princeton Global Asset Management LLC purchased a new stake in Coherus BioSciences during the third quarter worth $39,000. TrinityPoint Wealth LLC acquired a new stake in Coherus BioSciences during the fourth quarter valued at $40,000. China Universal Asset Management Co. Ltd. raised its position in shares of Coherus BioSciences by 430.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,880 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 10,454 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new position in Coherus BioSciences in the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 72.82% of the company’s stock.

Coherus BioSciences Price Performance

CHRS opened at $2.27 on Monday. The firm has a market cap of $257.65 million, a price-to-earnings ratio of -0.88 and a beta of 0.56. Coherus BioSciences has a 1 year low of $1.43 and a 1 year high of $8.22. The stock’s 50 day simple moving average is $2.28 and its 200 day simple moving average is $2.41.

Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings results on Wednesday, March 13th. The biotechnology company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.39). The business had revenue of $91.52 million for the quarter, compared to analyst estimates of $105.30 million. As a group, sell-side analysts anticipate that Coherus BioSciences will post -0.37 EPS for the current year.

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.