Coherus BioSciences (NASDAQ:CHRS) Given New $23.00 Price Target at Mizuho

Coherus BioSciences (NASDAQ:CHRS – Get Rating) had its target price boosted by Mizuho from $21.00 to $23.00 in a report released on Tuesday morning, The Fly reports.

A number of other equities analysts have also recently commented on the stock. Barclays decreased their target price on shares of Coherus BioSciences from $15.00 to $13.00 and set an overweight rating on the stock in a research report on Wednesday, March 8th. Maxim Group decreased their target price on shares of Coherus BioSciences to $15.00 in a research report on Thursday, November 17th. JPMorgan Chase & Co. decreased 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 report on Monday, November 14th. Finally, HC Wainwright decreased 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 report on Tuesday, March 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $15.83.

Coherus BioSciences Stock Performance

Coherus BioSciences stock opened at $6.35 on Tuesday. The firm’s fifty day moving average price is $8.20 and its 200-day moving average price is $8.29. The stock has a market cap of $505.52 million, a P/E ratio of -1.69 and a beta of 0.92. Coherus BioSciences has a fifty-two week low of $5.58 and a fifty-two week high of $14.11.

Coherus BioSciences (NASDAQ:CHRS – Get Rating) last issued its earnings results on Monday, March 6th. The biotechnology company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.12). The business 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 quarter in the previous year, the business earned ($0.60) EPS. On average, analysts predict that Coherus BioSciences will post -1.1 earnings per share for the current year.

Institutional Investors Weigh In On Coherus BioSciences

A number of large investors have recently modified their holdings of CHRS. Natixis Advisors L.P. boosted its stake in shares of Coherus BioSciences by 16.0% during the 1st quarter. Natixis Advisors L.P. now owns 19,460 shares of the biotechnology company’s stock valued at $251,000 after purchasing an additional 2,687 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Coherus BioSciences by 63.6% during the 1st quarter. MetLife Investment Management LLC now owns 34,888 shares of the biotechnology company’s stock valued at $450,000 after purchasing an additional 13,564 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Coherus BioSciences by 5.8% during the 1st quarter. Rhumbline Advisers now owns 165,100 shares of the biotechnology company’s stock valued at $2,131,000 after purchasing an additional 8,992 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Coherus BioSciences by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,943 shares of the biotechnology company’s stock worth $709,000 after acquiring an additional 6,775 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Coherus BioSciences by 1.3% during the first quarter. BlackRock Inc. now owns 12,072,187 shares of the biotechnology company’s stock worth $155,851,000 after acquiring an additional 153,332 shares in the last quarter. Institutional investors own 99.45% of the company’s stock.

About Coherus BioSciences

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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.