HC Wainwright Reiterates Buy Rating for Coherus BioSciences (NASDAQ:CHRS)

Coherus BioSciences (NASDAQ:CHRS)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $7.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 464.52% from the stock’s current price.

CHRS has been the subject of a number of other reports. StockNews.com cut shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Robert W. Baird upped their price target on Coherus BioSciences from $4.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.38.

Coherus BioSciences Stock Down 3.1 %

NASDAQ CHRS opened at $1.24 on Thursday. The company has a 50 day moving average price of $1.42 and a two-hundred day moving average price of $1.27. Coherus BioSciences has a 12-month low of $0.66 and a 12-month high of $2.87. The stock has a market capitalization of $142.86 million, a PE ratio of -15.50 and a beta of 0.82.

Institutional Investors Weigh In On Coherus BioSciences

Several hedge funds and other institutional investors have recently made changes to their positions in CHRS. Rhumbline Advisers grew its holdings in Coherus BioSciences by 19.5% in the 2nd quarter. Rhumbline Advisers now owns 154,904 shares of the biotechnology company’s stock valued at $268,000 after buying an additional 25,241 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Coherus BioSciences by 159.2% in the second quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock valued at $683,000 after acquiring an additional 242,500 shares during the period. Hsbc Holdings PLC grew its stake in shares of Coherus BioSciences by 10.6% in the second quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock worth $179,000 after acquiring an additional 9,905 shares during the last quarter. Marshall Wace LLP increased its position in Coherus BioSciences by 177.3% during the second 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 during the period. Finally, AQR Capital Management LLC acquired a new position in Coherus BioSciences during the 2nd quarter valued at $1,246,000. 72.82% of the stock is owned by institutional investors and hedge funds.

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.