HC Wainwright Reiterates “Buy” Rating for Coherus BioSciences (NASDAQ:CHRS)

Coherus BioSciences (NASDAQ:CHRSGet Rating)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Tuesday, TipRanks reports. They currently have a $30.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 206.44% from the stock’s current price.

CHRS has been the subject of several other reports. Mizuho reaffirmed a “buy” rating and set a $30.00 price objective on shares of Coherus BioSciences in a research report on Wednesday, March 23rd. Zacks Investment Research lowered shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Wednesday, April 27th. Barclays decreased their price objective on shares of Coherus BioSciences from $24.00 to $20.00 in a research note on Tuesday, February 22nd. JPMorgan Chase & Co. cut Coherus BioSciences from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $15.00 in a research note on Monday, March 7th. Finally, StockNews.com began coverage on shares of Coherus BioSciences in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Coherus BioSciences has an average rating of “Hold” and a consensus target price of $23.40.

Shares of NASDAQ CHRS traded up $0.11 during midday trading on Tuesday, hitting $9.79. The company’s stock had a trading volume of 31,855 shares, compared to its average volume of 734,867. The company has a debt-to-equity ratio of 4.18, a current ratio of 3.64 and a quick ratio of 3.42. The firm has a market capitalization of $757.06 million, a price-to-earnings ratio of -2.54 and a beta of 1.20. The business’s fifty day simple moving average is $11.68 and its two-hundred day simple moving average is $14.35. Coherus BioSciences has a 1 year low of $8.65 and a 1 year high of $19.32.

Coherus BioSciences (NASDAQ:CHRSGet Rating) last announced its quarterly earnings data on Thursday, February 17th. The biotechnology company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.01. The business had revenue of $73.37 million during the quarter, compared to analysts’ expectations of $83.32 million. Coherus BioSciences had a negative return on equity of 224.13% and a negative net margin of 87.92%. During the same quarter last year, the business posted $0.12 EPS. Analysts anticipate that Coherus BioSciences will post -2.77 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in CHRS. Arizona State Retirement System increased its stake in shares of Coherus BioSciences by 4.3% during the third quarter. Arizona State Retirement System now owns 16,507 shares of the biotechnology company’s stock worth $265,000 after acquiring an additional 677 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Coherus BioSciences by 3.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,265 shares of the biotechnology company’s stock worth $429,000 after purchasing an additional 1,069 shares during the period. CNA Financial Corp increased its position in Coherus BioSciences by 4.3% during the 3rd quarter. CNA Financial Corp now owns 26,161 shares of the biotechnology company’s stock worth $420,000 after purchasing an additional 1,080 shares during the period. Voya Investment Management LLC raised its stake in shares of Coherus BioSciences by 2.0% during the 3rd quarter. Voya Investment Management LLC now owns 69,710 shares of the biotechnology company’s stock worth $1,120,000 after buying an additional 1,347 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Coherus BioSciences by 43.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,515 shares of the biotechnology company’s stock valued at $72,000 after buying an additional 1,367 shares during the period. 97.85% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Coherus BioSciences (NASDAQ:CHRS)

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