Coherus BioSciences, Inc. (NASDAQ:CHRS) Receives $9.29 Consensus Target Price from Analysts

Coherus BioSciences, Inc. (NASDAQ:CHRS) has received an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $9.29.

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

Hedge Funds Weigh In On Coherus BioSciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Coherus BioSciences by 9.7% in the second quarter. BlackRock Inc. now owns 15,787,138 shares of the biotechnology company’s stock valued at $67,411,000 after acquiring an additional 1,389,573 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Coherus BioSciences by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 10,357,412 shares of the biotechnology company’s stock valued at $34,490,000 after acquiring an additional 575,285 shares in the last quarter. State Street Corp lifted its position in Coherus BioSciences by 23.6% during the second quarter. State Street Corp now owns 6,383,103 shares of the biotechnology company’s stock worth $46,214,000 after buying an additional 1,218,951 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in Coherus BioSciences by 1.8% during the fourth quarter. Alliancebernstein L.P. now owns 6,217,558 shares of the biotechnology company’s stock worth $49,243,000 after buying an additional 110,697 shares in the last quarter. Hedge funds and other institutional investors own 72.82% of the company’s stock.

Coherus BioSciences Stock Down 1.3 %

Coherus BioSciences stock opened at $2.20 on Thursday. The firm has a market cap of $247.96 million, a price-to-earnings ratio of -0.86 and a beta of 0.54. Coherus BioSciences has a 52 week low of $1.43 and a 52 week high of $8.65. The business’s 50-day moving average price is $2.42 and its 200 day moving average price is $2.56.

Coherus BioSciences (NASDAQ:CHRS) last posted its 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 company had revenue of $91.52 million during the quarter, compared to analysts’ expectations of $105.30 million. Equities analysts expect that Coherus BioSciences will post -0.56 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.