Stonepine Capital Management LLC Invests $345,000 in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Stonepine Capital Management LLC bought a new position in Coherus BioSciences, Inc. (NASDAQ:CHRS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 250,000 shares of the biotechnology company’s stock, valued at approximately $345,000. Stonepine Capital Management LLC owned about 0.22% of Coherus BioSciences as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Tang Capital Management LLC grew its holdings in shares of Coherus BioSciences by 55.3% in the fourth quarter. Tang Capital Management LLC now owns 3,650,000 shares of the biotechnology company’s stock worth $5,037,000 after purchasing an additional 1,300,000 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Coherus BioSciences in the fourth quarter worth $7,291,000. Millennium Management LLC lifted its stake in Coherus BioSciences by 31.6% in the fourth quarter. Millennium Management LLC now owns 1,049,603 shares of the biotechnology company’s stock worth $1,448,000 after acquiring an additional 252,092 shares during the period. Northern Trust Corp lifted its stake in Coherus BioSciences by 12.2% in the fourth quarter. Northern Trust Corp now owns 1,006,505 shares of the biotechnology company’s stock worth $1,389,000 after acquiring an additional 109,770 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in Coherus BioSciences in the fourth quarter worth $52,000. Institutional investors own 72.82% of the company’s stock.

Coherus BioSciences Trading Down 0.9%

Shares of Coherus BioSciences stock opened at $0.76 on Friday. The firm has a market capitalization of $88.23 million, a P/E ratio of -9.51 and a beta of 1.01. The business has a fifty day simple moving average of $0.93 and a two-hundred day simple moving average of $1.13. Coherus BioSciences, Inc. has a 12 month low of $0.66 and a 12 month high of $2.43.

Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings data on Monday, May 12th. The biotechnology company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The business had revenue of $7.60 million during the quarter, compared to analyst estimates of $59.79 million. During the same period in the prior year, the company earned ($0.32) earnings per share. Analysts predict that Coherus BioSciences, Inc. will post -1.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CHRS. UBS Group reaffirmed a “neutral” rating and issued a $1.05 price target (down previously from $1.50) on shares of Coherus BioSciences in a research note on Thursday, April 24th. StockNews.com lowered Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Friday, May 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Coherus BioSciences in a research note on Tuesday, April 29th.

Coherus BioSciences 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.