Coherus BioSciences (NASDAQ:CHRS) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Coherus BioSciences (NASDAQ:CHRS - Free Report) from a hold rating to a sell rating in a research note published on Tuesday.

Several other analysts also recently weighed in on CHRS. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Coherus BioSciences in a report on Tuesday, April 29th. UBS Group reaffirmed a "neutral" rating and issued a $1.05 price objective (down previously from $1.50) on shares of Coherus BioSciences in a report on Thursday, April 24th.

Coherus BioSciences Price Performance

Shares of CHRS stock traded down $0.02 during midday trading on Tuesday, hitting $0.76. The company had a trading volume of 1,200,430 shares, compared to its average volume of 2,720,371. The stock has a market cap of $87.66 million, a price-to-earnings ratio of -9.45 and a beta of 1.01. The company's 50 day simple moving average is $0.92 and its 200 day simple moving average is $1.13. Coherus BioSciences has a 52-week low of $0.66 and a 52-week high of $2.43.

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

Institutional Investors Weigh In On Coherus BioSciences

Institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new position in shares of Coherus BioSciences in the 4th quarter valued at about $7,291,000. Savant Capital LLC acquired a new position in Coherus BioSciences during the fourth quarter worth about $130,000. Geode Capital Management LLC grew its position in Coherus BioSciences by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,599,639 shares of the biotechnology company's stock worth $3,588,000 after buying an additional 34,494 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Coherus BioSciences by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 976,857 shares of the biotechnology company's stock valued at $1,348,000 after buying an additional 12,530 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in Coherus BioSciences in the fourth quarter valued at about $34,000. 72.82% of the stock is currently owned by hedge funds and other institutional investors.

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.