Brokerages Set Coherus BioSciences, Inc. (NASDAQ:CHRS) Price Target at $8.83

Coherus BioSciences, Inc. (NASDAQ:CHRS) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.67.

Several research firms recently issued reports on CHRS. Truist Financial decreased their target price on shares of Coherus BioSciences from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Coherus BioSciences in a research report on Friday, May 24th. Finally, Robert W. Baird decreased their target price on shares of Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Monday.

Coherus BioSciences Price Performance

Coherus BioSciences stock opened at $1.61 on Tuesday. Coherus BioSciences has a 12-month low of $1.43 and a 12-month high of $5.47. The stock has a market capitalization of $184.72 million, a P/E ratio of -2.06 and a beta of 0.60. The firm’s 50-day moving average is $1.90 and its two-hundred day moving average is $2.25.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.33). The business had revenue of $77.06 million for the quarter, compared to the consensus estimate of $102.00 million. During the same quarter in the prior year, the company earned ($0.89) earnings per share. As a group, analysts forecast that Coherus BioSciences will post -1.14 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. TrinityPoint Wealth LLC purchased a new stake in shares of Coherus BioSciences during the fourth quarter valued at approximately $40,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Coherus BioSciences by 430.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,880 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 10,454 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in shares of Coherus BioSciences during the fourth quarter valued at approximately $47,000. Vontobel Holding Ltd. purchased a new stake in shares of Coherus BioSciences during the fourth quarter valued at approximately $50,000. Finally, ELCO Management Co. LLC purchased a new stake in shares of Coherus BioSciences during the third quarter valued at approximately $57,000. 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.