Coherus BioSciences, Inc. (NASDAQ:CHRS) Short Interest Down 9.5% in March

Coherus BioSciences, Inc. (NASDAQ:CHRS) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 23,450,000 shares, a decline of 9.5% from the March 15th total of 25,910,000 shares. Based on an average daily volume of 3,790,000 shares, the short-interest ratio is presently 6.2 days.

Analyst Upgrades and Downgrades

CHRS has been the topic of several research analyst reports. HC Wainwright cut their price target on Coherus BioSciences from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th. Truist Financial decreased their price target on shares of Coherus BioSciences from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Finally, Robert W. Baird decreased their target price on shares of Coherus BioSciences from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.29.

Coherus BioSciences Trading Down 2.3 %

CHRS stock opened at $2.15 on Wednesday. The firm has a 50 day moving average of $2.41 and a 200-day moving average of $2.55. Coherus BioSciences has a 12-month low of $1.43 and a 12-month high of $8.65.

Coherus BioSciences (NASDAQ:CHRS) last announced its earnings results on Wednesday, March 13th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.39). The business had revenue of $91.52 million for the quarter, compared to the consensus estimate of $105.30 million. Sell-side analysts forecast that Coherus BioSciences will post -0.56 earnings per share for the current fiscal year.

Institutional Trading of Coherus BioSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Coherus BioSciences by 9.7% during the second quarter. BlackRock Inc. now owns 15,787,138 shares of the biotechnology company’s stock worth $67,411,000 after buying an additional 1,389,573 shares in the last quarter. Vanguard Group Inc. grew its stake in Coherus BioSciences by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 10,357,412 shares of the biotechnology company’s stock worth $34,490,000 after acquiring an additional 575,285 shares during the period. State Street Corp grew its stake in Coherus BioSciences by 23.6% in the 2nd quarter. State Street Corp now owns 6,383,103 shares of the biotechnology company’s stock worth $46,214,000 after acquiring an additional 1,218,951 shares during the period. Finally, Alliancebernstein L.P. lifted its stake 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. Hedge funds and other institutional investors 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.