Coherus BioSciences, Inc. (NASDAQ:CHRS) Receives Average Rating of "Moderate Buy" from Brokerages

Coherus BioSciences, Inc. (NASDAQ:CHRS - Get Free Report) has earned an average rating of "Moderate Buy" from the six brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $9.29.

CHRS has been the subject of several research reports. HC Wainwright lowered their price objective on shares of Coherus BioSciences from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, March 20th. Robert W. Baird lowered their price objective on shares of Coherus BioSciences from $11.00 to $9.00 and set an "outperform" rating for the company in a research report on Tuesday, January 23rd. Finally, Truist Financial lowered their price objective on shares of Coherus BioSciences from $12.00 to $8.00 and set a "buy" rating for the company in a research report on Tuesday, January 23rd.

Coherus BioSciences Stock Performance

NASDAQ:CHRS traded down $0.04 during trading hours on Thursday, hitting $2.41. The stock had a trading volume of 1,761,548 shares, compared to its average volume of 4,023,869. Coherus BioSciences has a one year low of $1.43 and a one year high of $8.65. The company has a market cap of $271.63 million, a price-to-earnings ratio of -0.94 and a beta of 0.54. The business's 50 day moving average is $2.41 and its 200-day moving average is $2.61.

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) last issued its earnings results on Wednesday, March 13th. The biotechnology company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.39). The business had revenue of $91.52 million for the quarter, compared to analysts' expectations of $105.30 million. On average, sell-side analysts anticipate that Coherus BioSciences will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc boosted its holdings in Coherus BioSciences by 6.9% during the third quarter. Ensign Peak Advisors Inc now owns 21,490 shares of the biotechnology company's stock worth $207,000 after purchasing an additional 1,390 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Coherus BioSciences by 55.0% during the third quarter. Federated Hermes Inc. now owns 4,223 shares of the biotechnology company's stock worth $41,000 after purchasing an additional 1,498 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Coherus BioSciences by 4.7% during the first quarter. Mackenzie Financial Corp now owns 33,671 shares of the biotechnology company's stock worth $435,000 after purchasing an additional 1,509 shares during the last quarter. American International Group Inc. boosted its holdings in Coherus BioSciences by 5.6% during the second quarter. American International Group Inc. now owns 39,212 shares of the biotechnology company's stock worth $284,000 after purchasing an additional 2,067 shares during the last quarter. Finally, Eagle Bay Advisors LLC lifted its stake in Coherus BioSciences by 136.1% in the second quarter. Eagle Bay Advisors LLC now owns 3,891 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 2,243 shares during the last quarter. Institutional investors and hedge funds own 72.82% of the company's stock.

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.