Coherus BioSciences, Inc. (NASDAQ:CHRS – Get Rating) has been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $23.40.
A number of analysts have commented on CHRS shares. Barclays reduced their target price on Coherus BioSciences from $24.00 to $20.00 in a report on Tuesday, February 22nd. Mizuho restated a “buy” rating and issued a $30.00 price target on shares of Coherus BioSciences in a research note on Wednesday, March 23rd. JPMorgan Chase & Co. downgraded Coherus BioSciences from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $15.00 in a research note on Monday, March 7th. Zacks Investment Research upgraded Coherus BioSciences from a “sell” rating to a “hold” rating in a research note on Wednesday, April 20th. Finally, StockNews.com began coverage on Coherus BioSciences in a research note on Thursday, March 31st. They issued a “hold” rating on the stock.
Coherus BioSciences stock opened at $9.62 on Tuesday. The firm has a market cap of $743.91 million, a price-to-earnings ratio of -2.49 and a beta of 1.06. The stock has a fifty day simple moving average of $11.98 and a two-hundred day simple moving average of $14.63. Coherus BioSciences has a 12 month low of $9.34 and a 12 month high of $19.32. The company has a current ratio of 3.64, a quick ratio of 3.42 and a debt-to-equity ratio of 4.18.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bbva USA lifted its position in Coherus BioSciences by 478.6% during the third quarter. Bbva USA now owns 3,564 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 2,948 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Coherus BioSciences by 43.4% during the third quarter. PNC Financial Services Group Inc. now owns 4,515 shares of the biotechnology company’s stock valued at $72,000 after acquiring an additional 1,367 shares during the period. Point72 Hong Kong Ltd bought a new stake in Coherus BioSciences during the fourth quarter valued at about $119,000. Teacher Retirement System of Texas bought a new stake in Coherus BioSciences during the fourth quarter valued at about $191,000. Finally, Inspire Investing LLC bought a new stake in Coherus BioSciences during the third quarter valued at about $212,000. Institutional investors own 97.01% of the company’s stock.
About Coherus BioSciences (Get Rating)
Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the biosimilar and immuno-oncology market primarily in the United States. The company markets UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte stimulating colony factor in the United States. Its pipeline products include biosimilars of Humira, Avastin, and Lucentis.
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