Coherus BioSciences (NASDAQ:CHRS) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Coherus BioSciences (NASDAQ:CHRS - Free Report) from a hold rating to a sell rating in a report published on Friday.

A number of other equities research analysts have also issued reports on CHRS. HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of Coherus BioSciences in a report on Tuesday, April 29th. UBS Group reiterated a "neutral" rating and set a $1.05 price objective (down previously from $1.50) on shares of Coherus BioSciences in a research note on Thursday, April 24th.

Coherus BioSciences Stock Performance

Shares of NASDAQ:CHRS traded down $0.04 during mid-day trading on Friday, reaching $0.79. 1,433,365 shares of the company's stock were exchanged, compared to its average volume of 2,711,650. The firm has a market capitalization of $91.58 million, a price-to-earnings ratio of -9.88 and a beta of 1.01. Coherus BioSciences has a twelve month low of $0.66 and a twelve month high of $2.43. The business's fifty day moving average price is $0.95 and its 200-day moving average price is $1.13.

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.04). The business had revenue of $7.60 million for the quarter, compared to analyst estimates of $59.79 million. During the same period last year, the firm earned ($0.32) earnings per share. Analysts predict that Coherus BioSciences will post -1.05 EPS for the current fiscal year.

Institutional Trading of Coherus BioSciences

A number of large investors have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in shares of Coherus BioSciences in the fourth quarter worth approximately $7,291,000. Tang Capital Management LLC raised its position in shares of Coherus BioSciences by 55.3% in the fourth quarter. Tang Capital Management LLC now owns 3,650,000 shares of the biotechnology company's stock valued at $5,037,000 after purchasing an additional 1,300,000 shares during the period. Millennium Management LLC raised its position in shares of Coherus BioSciences by 31.6% in the fourth quarter. Millennium Management LLC now owns 1,049,603 shares of the biotechnology company's stock valued at $1,448,000 after purchasing an additional 252,092 shares during the period. Stonepine Capital Management LLC bought a new position in Coherus BioSciences during the fourth quarter worth $345,000. Finally, Los Angeles Capital Management LLC increased its holdings in Coherus BioSciences by 20.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,116,142 shares of the biotechnology company's stock valued at $1,540,000 after buying an additional 186,010 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.