Coherus BioSciences (NASDAQ:CHRS) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Coherus BioSciences (NASDAQ:CHRS) from a hold rating to a sell rating in a research report released on Tuesday morning.

Other analysts have also recently issued reports about the company. UBS Group reissued a “neutral” rating and set a $1.05 price target (down from $1.50) on shares of Coherus BioSciences in a report on Thursday, April 24th. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Coherus BioSciences in a report on Tuesday, April 29th.

Coherus BioSciences Stock Up 2.0%

CHRS opened at $0.82 on Tuesday. Coherus BioSciences has a 12-month low of $0.66 and a 12-month high of $2.43. The stock has a market cap of $94.61 million, a price-to-earnings ratio of -10.20 and a beta of 1.01. The business has a 50 day moving average of $0.92 and a 200-day moving average of $1.13.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly 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 company had revenue of $7.60 million during the quarter, compared to analyst estimates of $59.79 million. During the same period in the prior year, the firm posted ($0.32) earnings per share. As a group, analysts expect that Coherus BioSciences will post -1.05 earnings per share for the current year.

Institutional Trading of Coherus BioSciences

Large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new stake in Coherus BioSciences during the fourth quarter worth about $7,291,000. Tang Capital Management LLC lifted its holdings in shares of Coherus BioSciences by 55.3% during the 4th quarter. Tang Capital Management LLC now owns 3,650,000 shares of the biotechnology company’s stock worth $5,037,000 after acquiring an additional 1,300,000 shares during the period. Geode Capital Management LLC boosted its position in shares of Coherus BioSciences by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,599,639 shares of the biotechnology company’s stock worth $3,588,000 after acquiring an additional 34,494 shares in the last quarter. CM Management LLC increased its stake in Coherus BioSciences by 4.8% in the first quarter. CM Management LLC now owns 2,147,500 shares of the biotechnology company’s stock valued at $1,733,000 after acquiring an additional 97,500 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Coherus BioSciences by 20.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,116,142 shares of the biotechnology company’s stock valued at $1,540,000 after acquiring an additional 186,010 shares during the last quarter. 72.82% of the stock is owned by institutional investors and hedge funds.

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.