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

HC Wainwright reissued their buy rating on shares of Coherus BioSciences (NASDAQ:CHRS) in a report issued on Wednesday morning,Benzinga reports. They currently have a $7.00 price objective on the biotechnology company’s stock.

A number of other equities research analysts also recently weighed in on CHRS. UBS Group downgraded Coherus BioSciences from a “buy” rating to a “neutral” rating and lowered their price target for the company from $4.00 to $1.50 in a report on Friday, August 16th. StockNews.com lowered Coherus BioSciences from a “buy” rating to a “hold” rating in a research report on Saturday, October 19th. Finally, Robert W. Baird reduced their price objective on Coherus BioSciences from $8.00 to $4.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $4.88.

Coherus BioSciences Stock Performance

Shares of NASDAQ CHRS opened at $1.71 on Wednesday. Coherus BioSciences has a twelve month low of $0.66 and a twelve month high of $3.70. The company has a market capitalization of $197.01 million, a price-to-earnings ratio of -21.38 and a beta of 0.86. The business has a 50 day simple moving average of $0.96 and a 200-day simple moving average of $1.32.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in Coherus BioSciences during the 1st quarter worth $94,000. AQR Capital Management LLC acquired a new position in Coherus BioSciences during the 2nd quarter worth $1,246,000. Los Angeles Capital Management LLC boosted its position in Coherus BioSciences by 344.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 930,132 shares of the biotechnology company’s stock worth $967,000 after acquiring an additional 720,672 shares during the period. Bank of New York Mellon Corp boosted its position in Coherus BioSciences by 26.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 389,225 shares of the biotechnology company’s stock worth $673,000 after acquiring an additional 80,222 shares during the period. Finally, Rhumbline Advisers boosted its position in Coherus BioSciences by 19.5% during the 2nd quarter. Rhumbline Advisers now owns 154,904 shares of the biotechnology company’s stock worth $268,000 after acquiring an additional 25,241 shares during the period. Institutional investors and hedge funds own 72.82% of the company’s stock.

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.