Coherus BioSciences (NASDAQ:CHRS) Rating Lowered to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Coherus BioSciences (NASDAQ:CHRS) from a hold rating to a sell rating in a report released on Tuesday morning.

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

Coherus BioSciences Stock Up 0.3%

NASDAQ:CHRS opened at $0.78 on Tuesday. The business’s 50-day simple moving average is $0.92 and its two-hundred day simple moving average is $1.13. Coherus BioSciences has a 52 week low of $0.66 and a 52 week high of $2.43. The stock has a market cap of $89.86 million, a PE ratio of -9.69 and a beta of 1.01.

Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Monday, May 12th. The biotechnology company reported ($0.35) earnings per share (EPS) 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 the consensus estimate of $59.79 million. During the same quarter in the previous year, the business earned ($0.32) earnings per share. Sell-side analysts anticipate that Coherus BioSciences will post -1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CHRS. Point72 Asset Management L.P. bought a new position in Coherus BioSciences during the fourth quarter valued at $7,291,000. Tang Capital Management LLC raised its position 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 valued at $5,037,000 after buying an additional 1,300,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Coherus BioSciences by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,599,639 shares of the biotechnology company’s stock valued at $3,588,000 after acquiring an additional 34,494 shares during the last quarter. CM Management LLC lifted its holdings in shares of Coherus BioSciences by 4.8% in the 1st 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 grew its position 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 worth $1,540,000 after acquiring an additional 186,010 shares in the last quarter. 72.82% of the stock is owned by hedge funds and other institutional investors.

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.