Coherus BioSciences (NASDAQ:CHRS) Downgraded by StockNews.com to “Hold”

Coherus BioSciences (NASDAQ:CHRS) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Several other equities analysts have also weighed in on the stock. Truist Financial cut their price objective on shares of Coherus BioSciences from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, May 13th. 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. Finally, Robert W. Baird cut their price objective on shares of Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Coherus BioSciences Trading Up 8.9 %

Shares of CHRS traded up $0.14 during mid-day trading on Friday, hitting $1.72. 1,323,732 shares of the company traded hands, compared to its average volume of 2,822,664. Coherus BioSciences has a one year low of $1.25 and a one year high of $5.47. The business has a 50-day moving average of $1.70 and a 200 day moving average of $2.12. The stock has a market capitalization of $197.34 million, a price-to-earnings ratio of -2.21 and a beta of 0.60.

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

Institutional Investors Weigh In On Coherus BioSciences

Hedge funds have recently bought and sold shares of the company. TrinityPoint Wealth LLC acquired a new stake in Coherus BioSciences in the fourth quarter worth $40,000. China Universal Asset Management Co. Ltd. raised its holdings 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 worth $43,000 after acquiring an additional 10,454 shares during the period. Baader Bank Aktiengesellschaft acquired a new stake in shares of Coherus BioSciences during the fourth quarter worth $47,000. Vontobel Holding Ltd. acquired a new stake in shares of Coherus BioSciences during the fourth quarter worth $50,000. Finally, RPO LLC acquired a new stake in shares of Coherus BioSciences during the fourth quarter worth $65,000. 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.