Boston Advisors LLC purchased a new stake in Coherus BioSciences, Inc. (NASDAQ:CHRS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,995 shares of the biotechnology company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CHRS. UBS Asset Management Americas Inc. raised its position in Coherus BioSciences by 79.5% in the first quarter. UBS Asset Management Americas Inc. now owns 900,317 shares of the biotechnology company’s stock valued at $19,042,000 after buying an additional 398,644 shares in the last quarter. Swiss National Bank raised its position in Coherus BioSciences by 39.9% in the first quarter. Swiss National Bank now owns 52,200 shares of the biotechnology company’s stock valued at $1,104,000 after buying an additional 14,900 shares in the last quarter. Pictet Asset Management Ltd. raised its position in Coherus BioSciences by 0.3% in the first quarter. Pictet Asset Management Ltd. now owns 441,788 shares of the biotechnology company’s stock valued at $9,344,000 after buying an additional 1,432 shares in the last quarter. Bank of New York Mellon Corp raised its position in Coherus BioSciences by 17.9% in the first quarter. Bank of New York Mellon Corp now owns 165,140 shares of the biotechnology company’s stock valued at $3,492,000 after buying an additional 25,108 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Coherus BioSciences during the first quarter valued at about $459,000. Institutional investors and hedge funds own 72.07% of the company’s stock.

Coherus BioSciences, Inc. (NASDAQ:CHRS) traded down 3.54% on Monday, reaching $12.25. The company’s stock had a trading volume of 158,322 shares. Coherus BioSciences, Inc. has a 12 month low of $12.05 and a 12 month high of $31.98. The stock’s 50 day moving average price is $14.27 and its 200 day moving average price is $20.24. The company’s market cap is $628.28 million.

Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Monday, May 8th. The biotechnology company reported ($1.54) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($1.54). Coherus BioSciences had a negative return on equity of 827.65% and a negative net margin of 76.85%. The firm had revenue of $0.16 million during the quarter. Equities research analysts forecast that Coherus BioSciences, Inc. will post ($5.13) earnings per share for the current year.

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Several research firms have recently issued reports on CHRS. Maxim Group set a $43.00 target price on Coherus BioSciences and gave the stock a “buy” rating in a report on Monday, May 15th. BMO Capital Markets reiterated an “outperform” rating and set a $54.00 target price on shares of Coherus BioSciences in a report on Monday, May 15th. Barclays PLC reiterated an “overweight” rating and set a $46.00 target price on shares of Coherus BioSciences in a report on Sunday, May 21st. Citigroup Inc. set a $38.00 target price on Coherus BioSciences and gave the stock a “buy” rating in a report on Wednesday, May 17th. Finally, ValuEngine upgraded Coherus BioSciences from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Coherus BioSciences presently has an average rating of “Buy” and an average price target of $37.11.

About Coherus BioSciences

Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is engaged in the business of developing and commercializing biosimilar products. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta) and bevacizumab (Avastin); Immunology (Anti-TNF) biosimilar candidates etanercept (Enbrel) and adalimumab (Humira); Ophthalmology biosimilar candidate ranibizumab (Lucentis), and Multiple sclerosis small molecule therapeutic candidate, CHS-131.

Institutional Ownership by Quarter for Coherus BioSciences (NASDAQ:CHRS)

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