Brokerages Set Coherus BioSciences, Inc. (NASDAQ:CHRS) PT at $9.29

Coherus BioSciences, Inc. (NASDAQ:CHRS) has earned an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $9.29.

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

Institutional Trading of Coherus BioSciences

Several large investors have recently added to or reduced their stakes in CHRS. Mirae Asset Global Investments Co. Ltd. grew its stake in Coherus BioSciences by 64.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,241 shares of the biotechnology company’s stock valued at $270,000 after purchasing an additional 28,272 shares during the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of Coherus BioSciences in the third quarter worth about $39,000. Teacher Retirement System of Texas boosted its stake in shares of Coherus BioSciences by 15.8% in the third quarter. Teacher Retirement System of Texas now owns 26,029 shares of the biotechnology company’s stock worth $97,000 after buying an additional 3,552 shares during the last quarter. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Coherus BioSciences in the third quarter worth about $116,000. Finally, SteelPeak Wealth LLC boosted its stake in shares of Coherus BioSciences by 28.6% in the third quarter. SteelPeak Wealth LLC now owns 54,000 shares of the biotechnology company’s stock worth $202,000 after buying an additional 12,000 shares during the last quarter. Hedge funds and other institutional investors own 72.82% of the company’s stock.

Coherus BioSciences Trading Down 0.9 %

CHRS opened at $2.23 on Monday. The firm has a market cap of $253.10 million, a price-to-earnings ratio of -0.87 and a beta of 0.56. Coherus BioSciences has a 12 month low of $1.43 and a 12 month high of $6.52. The stock has a fifty day moving average price of $2.26 and a 200-day moving average price of $2.39.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings results on Wednesday, March 13th. The biotechnology company reported ($0.72) 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. On average, equities research analysts forecast that Coherus BioSciences will post -0.37 EPS for the current year.

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.