Barclays Cuts Coherus BioSciences (NASDAQ:CHRS) Price Target to $8.00

Coherus BioSciences (NASDAQ:CHRS – Get Rating) had its price objective reduced by Barclays from $13.00 to $8.00 in a research note issued to investors on Tuesday, The Fly reports.

Several other research firms have also issued reports on CHRS. Maxim Group reduced their target price on shares of Coherus BioSciences from $15.00 to $12.00 in a report on Friday, May 12th. UBS Group upgraded Coherus BioSciences from a neutral rating to a buy rating and set a $11.00 price target on the stock in a research note on Tuesday, March 28th. StockNews.com assumed coverage on Coherus BioSciences in a research note on Thursday, May 18th. They issued a hold rating on the stock. HC Wainwright cut their target price on Coherus BioSciences from $26.00 to $24.00 in a research note on Tuesday, May 9th. Finally, Truist Financial initiated coverage on Coherus BioSciences in a report on Monday, May 1st. They issued a buy rating and a $24.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $16.14.

Coherus BioSciences Stock Down 1.2 %

Shares of NASDAQ CHRS opened at $4.29 on Tuesday. Coherus BioSciences has a 52 week low of $4.16 and a 52 week high of $14.11. The firm’s fifty day moving average is $6.66 and its 200 day moving average is $7.31. The company has a market cap of $345.56 million, a price-to-earnings ratio of -1.23 and a beta of 0.95.

Coherus BioSciences (NASDAQ:CHRS – Get Rating) last announced its earnings results on Monday, March 6th. The biotechnology company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.12). The firm had revenue of $45.35 million for the quarter, compared to analysts’ expectations of $45.72 million. During the same quarter in the previous year, the business posted ($0.60) EPS. Equities research analysts anticipate that Coherus BioSciences will post -2.05 earnings per share for the current year.

Hedge Funds Weigh In On Coherus BioSciences

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in shares of Coherus BioSciences by 2.2% in the first quarter. BlackRock Inc. now owns 14,397,565 shares of the biotechnology company’s stock worth $98,479,000 after buying an additional 315,269 shares during the period. State Street Corp raised its stake in Coherus BioSciences by 23.6% during the second quarter. State Street Corp now owns 6,383,103 shares of the biotechnology company’s stock valued at $46,214,000 after buying an additional 1,218,951 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Coherus BioSciences by 1.8% during the 4th quarter. Alliancebernstein L.P. now owns 6,217,558 shares of the biotechnology company’s stock worth $49,243,000 after purchasing an additional 110,697 shares during the period. Vanguard Group Inc. increased its position in Coherus BioSciences by 7.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,228,701 shares of the biotechnology company’s stock valued at $50,248,000 after acquiring an additional 345,286 shares during the period. Finally, Aristotle Capital Boston LLC boosted its stake in Coherus BioSciences by 8.0% during the 1st quarter. Aristotle Capital Boston LLC now owns 2,254,102 shares of the biotechnology company’s stock valued at $15,418,000 after purchasing an additional 167,528 shares in the last quarter. 99.45% of the stock is currently owned by institutional investors and hedge funds.

About Coherus BioSciences

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Coherus BioSciences, Inc is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of biosimilar therapeutics. Its products include UDENYCA and Coherus COMPLETE. The company was founded by Dennis M. Lanfear, Stuart E. Builder, Dr. Alan Herman, Doug Farrar and Steve Glover in September 2010 and is headquartered in Redwood City, CA.