Hsbc Holdings PLC Decreases Holdings in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Hsbc Holdings PLC trimmed its position in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS – Get Rating) by 72.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,756 shares of the biotechnology company’s stock after selling 35,602 shares during the period. Hsbc Holdings PLC’s holdings in Coherus BioSciences were worth $137,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CHRS. State Street Corp grew its holdings in Coherus BioSciences by 35.1% during the 1st quarter. State Street Corp now owns 5,164,152 shares of the biotechnology company’s stock valued at $66,669,000 after purchasing an additional 1,343,032 shares during the last quarter. Deutsche Bank AG grew its stake in Coherus BioSciences by 63.7% in the 2nd quarter. Deutsche Bank AG now owns 680,633 shares of the biotechnology company’s stock worth $4,927,000 after acquiring an additional 264,818 shares in the last quarter. Voya Investment Management LLC grew its stake in Coherus BioSciences by 318.0% in the 2nd quarter. Voya Investment Management LLC now owns 301,589 shares of the biotechnology company’s stock worth $2,184,000 after acquiring an additional 229,447 shares in the last quarter. Credit Suisse AG grew its stake in Coherus BioSciences by 87.0% in the 3rd quarter. Credit Suisse AG now owns 473,611 shares of the biotechnology company’s stock worth $4,552,000 after acquiring an additional 220,374 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Coherus BioSciences in the 3rd quarter worth about $1,838,000. 99.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CHRS has been the topic of a number of recent research reports. Mizuho dropped their price objective on shares of Coherus BioSciences from $28.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 16th. JPMorgan Chase & Co. dropped their price objective on shares of Coherus BioSciences from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, November 14th. Maxim Group dropped their price objective on shares of Coherus BioSciences to $15.00 in a research note on Thursday, November 17th. HC Wainwright dropped their price objective on shares of Coherus BioSciences from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, March 7th. Finally, Barclays decreased their target price on shares of Coherus BioSciences from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Coherus BioSciences Trading Down 2.7 %

NASDAQ CHRS opened at $6.07 on Friday. The company has a fifty day simple moving average of $8.27 and a two-hundred day simple moving average of $8.40. The stock has a market cap of $483.23 million, a P/E ratio of -1.61 and a beta of 0.92. Coherus BioSciences, Inc. has a 12-month low of $5.58 and a 12-month high of $14.11.

Coherus BioSciences (NASDAQ:CHRS – Get Rating) last posted its quarterly earnings results on Monday, March 6th. The biotechnology company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.12). The company had revenue of $45.35 million during the quarter, compared to analysts’ expectations of $45.72 million. Coherus BioSciences had a negative return on equity of 422.10% and a negative net margin of 138.24%. During the same period in the prior year, the business posted ($0.60) EPS. As a group, sell-side analysts forecast that Coherus BioSciences, Inc. will post -1.1 earnings per share for the current year.

Coherus BioSciences Company Profile

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Coherus BioSciences, Inc is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of biosimilar therapeutics. Its products include UDENYCA and Coherus COMPLETE. The company was founded by Dennis M. Lanfear, Stuart E. Builder, Dr. Alan Herman, Doug Farrar and Steve Glover in September 2010 and is headquartered in Redwood City, CA.