Handelsbanken Fonder AB lifted its position in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS – Get Rating) by 38.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 26,000 shares of the biotechnology company’s stock after acquiring an additional 7,200 shares during the period. Handelsbanken Fonder AB’s holdings in Coherus BioSciences were worth $206,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Tri Locum Partners LP raised its stake in Coherus BioSciences by 69.2% in the 3rd quarter. Tri Locum Partners LP now owns 636,943 shares of the biotechnology company’s stock valued at $6,121,000 after purchasing an additional 260,457 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in Coherus BioSciences by 706.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 224,306 shares of the biotechnology company’s stock valued at $2,156,000 after purchasing an additional 196,496 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Coherus BioSciences in the 3rd quarter valued at about $296,000. Pictet Asset Management SA raised its stake in Coherus BioSciences by 38.1% in the 3rd quarter. Pictet Asset Management SA now owns 231,792 shares of the biotechnology company’s stock valued at $2,228,000 after purchasing an additional 63,964 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Coherus BioSciences by 31.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 48,965 shares of the biotechnology company’s stock valued at $470,000 after purchasing an additional 11,761 shares during the last quarter. Institutional investors and hedge funds own 99.45% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. StockNews.com began coverage on shares of Coherus BioSciences in a research note on Thursday, March 16th. They issued a “hold” rating for the company. UBS Group upgraded Coherus BioSciences from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday, March 28th. Truist Financial began coverage on Coherus BioSciences in a report on Monday, May 1st. They issued a “buy” rating and a $24.00 price target for the company. Barclays lowered their price target on Coherus BioSciences from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, March 8th. Finally, Mizuho lifted their price target on Coherus BioSciences from $21.00 to $23.00 in a report on Tuesday, March 14th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.57.
Coherus BioSciences Stock Performance
Coherus BioSciences (NASDAQ:CHRS – Get Rating) last issued its earnings results on Monday, March 6th. The biotechnology company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.12). The firm had revenue of $45.35 million during the quarter, compared to analyst estimates of $45.72 million. During the same period in the prior year, the firm earned ($0.60) EPS. Analysts predict that Coherus BioSciences, Inc. will post -1.75 earnings per share for the current year.
About Coherus BioSciences
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.
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