UBS Group Lowers Coherus BioSciences (NASDAQ:CHRS) to Neutral

UBS Group lowered shares of Coherus BioSciences (NASDAQ:CHRS) from a buy rating to a neutral rating in a research note released on Friday morning, Marketbeat reports. The firm currently has $1.50 price target on the biotechnology company’s stock, down from their prior price target of $4.00.

Several other analysts have also recently weighed in on the company. Truist Financial reduced their price target on Coherus BioSciences from $8.00 to $7.00 and set a buy rating on the stock in a report on Monday, May 13th. Robert W. Baird decreased their price target on shares of Coherus BioSciences from $9.00 to $8.00 and set an outperform rating for the company in a research report on Monday, July 1st. StockNews.com lowered shares of Coherus BioSciences from a buy rating to a hold rating in a report on Friday, July 26th. Finally, HC Wainwright restated a buy rating and issued a $12.00 price objective on shares of Coherus BioSciences in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Coherus BioSciences has an average rating of Moderate Buy and an average target price of $6.92.

Coherus BioSciences Price Performance

Shares of CHRS stock opened at $1.27 on Friday. Coherus BioSciences has a twelve month low of $1.20 and a twelve month high of $5.47. The stock’s fifty day simple moving average is $1.55 and its 200 day simple moving average is $2.00. The firm has a market capitalization of $145.13 million, a P/E ratio of -1.57 and a beta of 0.60.

Institutional Investors Weigh In On Coherus BioSciences

A number of institutional investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new position in Coherus BioSciences in the second quarter valued at $1,246,000. Marshall Wace LLP raised its position in shares of Coherus BioSciences by 177.3% in the 2nd quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock worth $727,000 after acquiring an additional 268,763 shares in the last quarter. XTX Topco Ltd raised its position in shares of Coherus BioSciences by 304.9% in the 2nd quarter. XTX Topco Ltd now owns 271,433 shares of the biotechnology company’s stock worth $470,000 after acquiring an additional 204,391 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Coherus BioSciences by 10.6% in the 2nd quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock valued at $179,000 after purchasing an additional 9,905 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Coherus BioSciences by 159.2% during the 2nd quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock valued at $683,000 after purchasing an additional 242,500 shares in the last quarter. 72.82% of the stock is owned by institutional investors.

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.