Coherus BioSciences, Inc. (NASDAQ:CHRS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Coherus BioSciences, Inc. (NASDAQ:CHRS) has received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $9.29.

Several research firms recently commented on CHRS. HC Wainwright reduced their price objective on Coherus BioSciences from $13.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. Truist Financial reduced their price objective on Coherus BioSciences from $12.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Finally, Robert W. Baird reduced their price objective on Coherus BioSciences from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Tuesday, January 23rd.

Institutional Investors Weigh In On Coherus BioSciences

A number of large investors have recently made changes to their positions in the company. Ensign Peak Advisors Inc grew its stake in shares of Coherus BioSciences by 6.9% during the 3rd quarter. Ensign Peak Advisors Inc now owns 21,490 shares of the biotechnology company’s stock valued at $207,000 after purchasing an additional 1,390 shares during the period. Federated Hermes Inc. grew its stake in shares of Coherus BioSciences by 55.0% during the 3rd quarter. Federated Hermes Inc. now owns 4,223 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 1,498 shares during the period. Mackenzie Financial Corp grew its stake in shares of Coherus BioSciences by 4.7% during the 1st quarter. Mackenzie Financial Corp now owns 33,671 shares of the biotechnology company’s stock valued at $435,000 after purchasing an additional 1,509 shares during the period. American International Group Inc. lifted its position in shares of Coherus BioSciences by 5.6% during the 2nd quarter. American International Group Inc. now owns 39,212 shares of the biotechnology company’s stock valued at $284,000 after buying an additional 2,067 shares in the last quarter. Finally, Eagle Bay Advisors LLC lifted its position in shares of Coherus BioSciences by 136.1% during the 2nd quarter. Eagle Bay Advisors LLC now owns 3,891 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 2,243 shares in the last quarter. 72.82% of the stock is currently owned by institutional investors.

Coherus BioSciences Price Performance

CHRS opened at $2.20 on Thursday. The stock has a 50-day moving average price of $2.42 and a 200-day moving average price of $2.56. The firm has a market cap of $247.96 million, a PE ratio of -0.86 and a beta of 0.54. Coherus BioSciences has a 1 year low of $1.43 and a 1 year high of $8.65.

Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings results on Wednesday, March 13th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.39). The firm had revenue of $91.52 million during the quarter, compared to analysts’ expectations of $105.30 million. As a group, sell-side analysts anticipate that Coherus BioSciences will post -0.56 EPS for the current year.

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.