Coherus BioSciences (NASDAQ:CHRS) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Coherus BioSciences (NASDAQ:CHRS) in a research report sent to investors on Friday, Benzinga reports. HC Wainwright currently has a $12.00 price target on the biotechnology company’s stock.

Separately, Truist Financial reduced their price target 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Coherus BioSciences has an average rating of Moderate Buy and a consensus price target of $8.83.

Coherus BioSciences Stock Down 5.0 %

CHRS traded down $0.10 during trading on Friday, hitting $1.91. The company’s stock had a trading volume of 1,444,636 shares, compared to its average volume of 1,703,285. Coherus BioSciences has a one year low of $1.43 and a one year high of $5.63. The business’s 50 day simple moving average is $2.21 and its 200-day simple moving average is $2.30.

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

Hedge Funds Weigh In On Coherus BioSciences

A number of large investors have recently made changes to their positions in CHRS. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Coherus BioSciences by 64.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,241 shares of the biotechnology company’s stock worth $270,000 after purchasing an additional 28,272 shares during the period. Teacher Retirement System of Texas lifted its holdings in Coherus BioSciences by 15.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 26,029 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 3,552 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Coherus BioSciences during the 3rd quarter valued at about $281,000. Fox Run Management L.L.C. bought a new stake in Coherus BioSciences during the 3rd quarter valued at about $67,000. Finally, Barclays PLC raised its holdings in shares of Coherus BioSciences by 3,105.3% in the 3rd quarter. Barclays PLC now owns 2,375,557 shares of the biotechnology company’s stock valued at $8,884,000 after purchasing an additional 2,301,444 shares in the last quarter. 72.82% of the stock is owned by hedge funds and other 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.