Coherus BioSciences (NASDAQ:CHRS) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Coherus BioSciences, Inc. (NASDAQ:CHRS)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.28 and traded as high as $1.53. Coherus BioSciences shares last traded at $1.50, with a volume of 1,921,419 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CHRS. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Coherus BioSciences in a research note on Wednesday, December 4th. StockNews.com lowered Coherus BioSciences from a “buy” rating to a “hold” rating in a research report on Saturday, October 19th. Finally, Robert W. Baird increased their target price on Coherus BioSciences from $4.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.38.

Coherus BioSciences Stock Down 8.0 %

The company has a market cap of $158.99 million, a price-to-earnings ratio of -17.25 and a beta of 0.86. The firm has a 50 day moving average price of $1.18 and a two-hundred day moving average price of $1.28.

Institutional Trading of Coherus BioSciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHRS. Systematic Financial Management LP acquired a new stake in shares of Coherus BioSciences during the third quarter worth $28,000. TIAA Trust National Association bought a new stake in Coherus BioSciences during the second quarter valued at $47,000. Hsbc Holdings PLC grew its holdings in Coherus BioSciences by 10.6% during the 2nd quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock worth $179,000 after acquiring an additional 9,905 shares during the period. FMR LLC raised its position in shares of Coherus BioSciences by 21.1% in the 3rd quarter. FMR LLC now owns 225,113 shares of the biotechnology company’s stock worth $234,000 after acquiring an additional 39,204 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Coherus BioSciences by 19.5% in the 2nd quarter. Rhumbline Advisers now owns 154,904 shares of the biotechnology company’s stock valued at $268,000 after purchasing an additional 25,241 shares during the period. 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.