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

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Tuesday.

Separately, HC Wainwright reiterated a "buy" rating and set a $7.00 price objective on shares of Coherus BioSciences in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $5.38.

Coherus BioSciences Trading Up 10.9 %

Shares of Coherus BioSciences stock traded up $0.11 during trading on Tuesday, hitting $1.12. 3,008,677 shares of the stock traded hands, compared to its average volume of 2,721,544. The stock's fifty day simple moving average is $0.98 and its 200 day simple moving average is $1.12. The firm has a market cap of $129.80 million, a P/E ratio of -14.00 and a beta of 1.01. Coherus BioSciences has a 52-week low of $0.66 and a 52-week high of $2.43.

Institutional Investors Weigh In On Coherus BioSciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in shares of Coherus BioSciences during the fourth quarter worth $7,291,000. Tang Capital Management LLC grew its stake in Coherus BioSciences by 55.3% during the 4th quarter. Tang Capital Management LLC now owns 3,650,000 shares of the biotechnology company's stock worth $5,037,000 after buying an additional 1,300,000 shares during the last quarter. Geode Capital Management LLC increased its position in Coherus BioSciences by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,599,639 shares of the biotechnology company's stock valued at $3,588,000 after buying an additional 34,494 shares in the last quarter. CM Management LLC raised its stake in Coherus BioSciences by 2.5% in the fourth quarter. CM Management LLC now owns 2,050,000 shares of the biotechnology company's stock valued at $2,829,000 after buying an additional 50,000 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Coherus BioSciences by 20.0% in the fourth 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 last quarter. Hedge funds and other institutional investors 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.