Coherus BioSciences (NASDAQ:CHRS) Earns “Buy” Rating from HC Wainwright

by · The Markets Daily

HC Wainwright restated their buy rating on shares of Coherus BioSciences (NASDAQ:CHRS – Free Report) in a research note released on Monday, Benzinga reports. HC Wainwright currently has a $12.00 target price on the biotechnology company’s stock. HC Wainwright also issued estimates for Coherus BioSciences’ Q4 2024 earnings at ($0.25) EPS and FY2024 earnings at ($1.16) EPS.

A number of other brokerages also recently issued reports on CHRS. Robert W. Baird cut their price target on Coherus BioSciences from $9.00 to $8.00 and set an outperform rating on the stock in a report on Monday, July 1st. StockNews.com downgraded Coherus BioSciences from a buy rating to a hold rating in a research note on Friday, September 6th. Finally, UBS Group downgraded Coherus BioSciences from a buy rating to a neutral rating and dropped their target price for the stock from $4.00 to $1.50 in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $6.92.

Check Out Our Latest Report on CHRS

Coherus BioSciences Stock Up 1.0 %

Shares of NASDAQ CHRS opened at $1.05 on Monday. The business has a fifty day simple moving average of $1.42 and a two-hundred day simple moving average of $1.81. The firm has a market cap of $120.46 million, a PE ratio of -1.35 and a beta of 0.66. Coherus BioSciences has a twelve month low of $1.01 and a twelve month high of $4.73.

Coherus BioSciences (NASDAQ:CHRS – Get Free Report) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.10. The firm had revenue of $64.98 million for the quarter, compared to the consensus estimate of $57.08 million. On average, research analysts expect that Coherus BioSciences will post -1.07 earnings per share for the current year.

Hedge Funds Weigh In On Coherus BioSciences

Several institutional investors and hedge funds have recently modified their holdings of CHRS. Nisa Investment Advisors LLC raised its holdings in Coherus BioSciences by 2,672.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 19,912 shares during the period. TrinityPoint Wealth LLC acquired a new position in Coherus BioSciences in the 4th quarter worth about $40,000. TIAA Trust National Association acquired a new position in Coherus BioSciences in the 2nd quarter worth about $47,000. China Universal Asset Management Co. Ltd. raised its holdings in Coherus BioSciences by 66.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 21,426 shares of the biotechnology company’s stock worth $51,000 after purchasing an additional 8,546 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in Coherus BioSciences in the 1st quarter worth about $56,000. Institutional investors and hedge funds own 72.82% of the company’s stock.

About Coherus BioSciences

(Get Free Report)

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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