Coherus BioSciences, Inc. (NASDAQ:CHRS) Receives $6.92 Average Target Price from Brokerages

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) have received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $6.92.

A number of equities analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Coherus BioSciences in a report on Monday, August 5th. Robert W. Baird decreased their target price on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Monday, July 1st. StockNews.com cut Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, UBS Group cut Coherus BioSciences from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $4.00 to $1.50 in a report on Friday, August 16th.

Hedge Funds Weigh In On Coherus BioSciences

Several large investors have recently made changes to their positions in CHRS. AQR Capital Management LLC purchased a new position in shares of Coherus BioSciences in the second quarter valued at about $1,246,000. Lighthouse Investment Partners LLC purchased a new position in shares of Coherus BioSciences in the fourth quarter valued at about $1,043,000. BNP Paribas Financial Markets lifted its position in shares of Coherus BioSciences by 694.2% in the first quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock valued at $827,000 after acquiring an additional 302,570 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Coherus BioSciences by 177.3% in the second quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock valued at $727,000 after acquiring an additional 268,763 shares in the last quarter. Finally, Renaissance Technologies LLC lifted 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 in the last quarter. 72.82% of the stock is currently owned by hedge funds and other institutional investors.

Coherus BioSciences Price Performance

NASDAQ CHRS opened at $1.29 on Friday. The business’s fifty day moving average price is $1.44 and its 200-day moving average price is $1.85. The stock has a market capitalization of $148.00 million, a price-to-earnings ratio of -1.65 and a beta of 0.66. Coherus BioSciences has a 1-year low of $1.20 and a 1-year high of $5.02.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.10. The firm had revenue of $64.98 million for the quarter, compared to the consensus estimate of $57.08 million. Equities research analysts anticipate that Coherus BioSciences will post -1.07 EPS for the current year.

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.