5,283,292 Shares in Coherus BioSciences, Inc. (NASDAQ:CHRS) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new position in Coherus BioSciences, Inc. (NASDAQ:CHRS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,283,292 shares of the biotechnology company’s stock, valued at approximately $7,291,000. Point72 Asset Management L.P. owned about 4.56% of Coherus BioSciences at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CHRS. Bank of Montreal Can bought a new stake in Coherus BioSciences in the 4th quarter worth approximately $34,000. Intech Investment Management LLC bought a new position in shares of Coherus BioSciences during the 4th quarter valued at approximately $38,000. The Manufacturers Life Insurance Company bought a new position in shares of Coherus BioSciences during the 4th quarter valued at approximately $52,000. Ieq Capital LLC bought a new position in shares of Coherus BioSciences during the 4th quarter valued at approximately $68,000. Finally, Wells Fargo & Company MN increased its position in shares of Coherus BioSciences by 32.4% during the 4th quarter. Wells Fargo & Company MN now owns 61,830 shares of the biotechnology company’s stock valued at $85,000 after purchasing an additional 15,137 shares during the last quarter. Institutional investors own 72.82% of the company’s stock.

Coherus BioSciences Trading Up 5.1%

Shares of CHRS stock opened at $0.80 on Tuesday. Coherus BioSciences, Inc. has a twelve month low of $0.66 and a twelve month high of $2.43. The stock has a market capitalization of $92.75 million, a price-to-earnings ratio of -10.00 and a beta of 1.01. The stock has a fifty day simple moving average of $0.93 and a two-hundred day simple moving average of $1.13.

Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Monday, May 12th. The biotechnology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The business had revenue of $7.60 million during the quarter, compared to analyst estimates of $59.79 million. During the same period last year, the company earned ($0.32) EPS. Research analysts predict that Coherus BioSciences, Inc. will post -1.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on CHRS shares. StockNews.com downgraded Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Coherus BioSciences in a research report on Tuesday, April 29th. Finally, UBS Group reaffirmed a “neutral” rating and set a $1.05 price target (down previously from $1.50) on shares of Coherus BioSciences in a research note on Thursday, April 24th.

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.