Coherus BioSciences, Inc. (NASDAQ:CHRS – Get Free Report) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 27,960,000 shares, an increase of 11.4% from the September 15th total of 25,090,000 shares. Based on an average daily volume of 2,150,000 shares, the short-interest ratio is currently 13.0 days.
Institutional Trading of Coherus BioSciences
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC bought a new stake in shares of Coherus BioSciences in the 2nd quarter valued at about $1,246,000. BNP Paribas Financial Markets boosted its holdings in Coherus BioSciences by 694.2% in the first quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock valued at $827,000 after acquiring an additional 302,570 shares during the last quarter. Marshall Wace LLP boosted its holdings in Coherus BioSciences by 177.3% in the second quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock valued at $727,000 after acquiring an additional 268,763 shares during the last quarter. Renaissance Technologies LLC increased its position in Coherus BioSciences by 159.2% during the 2nd quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock valued at $683,000 after purchasing an additional 242,500 shares during the period. Finally, XTX Topco Ltd raised its holdings in Coherus BioSciences by 304.9% during the 2nd quarter. XTX Topco Ltd now owns 271,433 shares of the biotechnology company’s stock worth $470,000 after purchasing an additional 204,391 shares during the last quarter. 72.82% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently weighed in on CHRS shares. UBS Group lowered Coherus BioSciences from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $4.00 to $1.50 in a research note on Friday, August 16th. StockNews.com upgraded shares of Coherus BioSciences from a “hold” rating to a “buy” rating in a research note on Friday, October 11th. Robert W. Baird lowered their price objective on shares of Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating for the company in a research report on Monday, July 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Coherus BioSciences in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $7.10.
Coherus BioSciences Stock Performance
Shares of NASDAQ:CHRS traded down $0.01 during midday trading on Thursday, hitting $0.88. 1,751,573 shares of the stock were exchanged, compared to its average volume of 2,667,195. The business’s 50-day moving average price is $1.21 and its 200 day moving average price is $1.63. Coherus BioSciences has a 12 month low of $0.85 and a 12 month high of $3.73. The stock has a market capitalization of $101.04 million, a price-to-earnings ratio of -1.10 and a beta of 0.65.
Coherus BioSciences (NASDAQ:CHRS – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.10. The business had revenue of $64.98 million during the quarter, compared to analyst estimates of $57.08 million. As a group, sell-side analysts expect that Coherus BioSciences will post -1.16 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.
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