Verition Fund Management LLC Takes $103,000 Position in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Verition Fund Management LLC purchased a new stake in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS – Get Rating) during the third quarter, Holdings Channel.com reports. The firm purchased 10,671 shares of the biotechnology company’s stock, valued at approximately $103,000.

A number of other large investors have also made changes to their positions in CHRS. State Street Corp raised its holdings in shares of Coherus BioSciences by 35.1% during the first quarter. State Street Corp now owns 5,164,152 shares of the biotechnology company’s stock valued at $66,669,000 after acquiring an additional 1,343,032 shares during the period. Deutsche Bank AG raised its holdings in shares of Coherus BioSciences by 63.7% during the second quarter. Deutsche Bank AG now owns 680,633 shares of the biotechnology company’s stock valued at $4,927,000 after acquiring an additional 264,818 shares during the period. Voya Investment Management LLC increased its stake in Coherus BioSciences by 318.0% in the 2nd quarter. Voya Investment Management LLC now owns 301,589 shares of the biotechnology company’s stock valued at $2,184,000 after buying an additional 229,447 shares during the period. Credit Suisse AG increased its stake in Coherus BioSciences by 87.0% in the 3rd quarter. Credit Suisse AG now owns 473,611 shares of the biotechnology company’s stock valued at $4,552,000 after buying an additional 220,374 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Coherus BioSciences in the 3rd quarter valued at approximately $1,838,000. Institutional investors and hedge funds own 99.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CHRS shares. HC Wainwright dropped their price objective on shares of Coherus BioSciences from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, March 7th. Mizuho decreased their target price on shares of Coherus BioSciences from $28.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 16th. JPMorgan Chase & Co. decreased their target price on shares of Coherus BioSciences from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, November 14th. Maxim Group decreased their target price on shares of Coherus BioSciences to $15.00 in a research report on Thursday, November 17th. Finally, Barclays decreased their target price on shares of Coherus BioSciences from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Coherus BioSciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

Coherus BioSciences Trading Down 2.7 %

NASDAQ CHRS opened at $6.07 on Friday. The company has a fifty day simple moving average of $8.27 and a 200 day simple moving average of $8.40. The company has a market cap of $483.23 million, a P/E ratio of -1.61 and a beta of 0.92. Coherus BioSciences, Inc. has a 1 year low of $5.58 and a 1 year high of $14.11.

Coherus BioSciences (NASDAQ:CHRS – Get Rating) last posted its quarterly earnings data on Monday, March 6th. The biotechnology company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.12). The firm had revenue of $45.35 million for the quarter, compared to the consensus estimate of $45.72 million. Coherus BioSciences had a negative return on equity of 422.10% and a negative net margin of 138.24%. During the same period in the prior year, the company posted ($0.60) earnings per share. Equities research analysts forecast that Coherus BioSciences, Inc. will post -1.1 EPS for the current fiscal year.

Coherus BioSciences Company Profile

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Coherus BioSciences, Inc is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of biosimilar therapeutics. Its products include UDENYCA and Coherus COMPLETE. The company was founded by Dennis M. Lanfear, Stuart E. Builder, Dr. Alan Herman, Doug Farrar and Steve Glover in September 2010 and is headquartered in Redwood City, CA.