StockNews.com Upgrades Coherus BioSciences (NASDAQ:CHRS) to “Buy”

StockNews.com upgraded shares of Coherus BioSciences (NASDAQ:CHRS) from a hold rating to a buy rating in a research report released on Thursday morning.

A number of other research analysts have also weighed in on CHRS. HC Wainwright restated a buy rating and issued a $12.00 price objective on shares of Coherus BioSciences in a report on Friday, May 24th. Truist Financial lowered their price target 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. Finally, Robert W. Baird dropped their price objective on shares of Coherus BioSciences from $9.00 to $8.00 and set an outperform rating for the company in a research note on Monday, July 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $8.67.

Coherus BioSciences Stock Up 3.1 %

CHRS opened at $1.66 on Thursday. The company has a market cap of $190.45 million, a PE ratio of -2.13 and a beta of 0.60. Coherus BioSciences has a twelve month low of $1.25 and a twelve month high of $5.47. The company has a 50-day moving average price of $1.79 and a 200 day moving average price of $2.20.

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

Institutional Investors Weigh In On Coherus BioSciences

Several hedge funds and other institutional investors have recently bought and sold shares of CHRS. Vanguard Group Inc. grew its stake in shares of Coherus BioSciences by 10.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,782,127 shares of the biotechnology company’s stock valued at $36,585,000 after buying an additional 932,476 shares during the period. Los Angeles Capital Management LLC grew its position in Coherus BioSciences by 82.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 136,820 shares of the biotechnology company’s stock worth $456,000 after acquiring an additional 61,722 shares during the period. Nomura Holdings Inc. increased its stake in Coherus BioSciences by 225.1% during the fourth quarter. Nomura Holdings Inc. now owns 68,300 shares of the biotechnology company’s stock worth $227,000 after acquiring an additional 47,290 shares during the last quarter. Birchview Capital LP purchased a new stake in Coherus BioSciences in the fourth quarter valued at $366,000. Finally, Wellington Management Group LLP lifted its stake in shares of Coherus BioSciences by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 337,748 shares of the biotechnology company’s stock valued at $1,263,000 after purchasing an additional 14,209 shares during the last quarter. 72.82% of the stock is currently owned by institutional investors and hedge funds.

Coherus BioSciences Company 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.