Coherus BioSciences (NASDAQ:CHRS) Price Target Lowered to $8.00 at Barclays

Coherus BioSciences (NASDAQ:CHRS – Get Rating) had its price objective trimmed by Barclays from $13.00 to $8.00 in a research note issued to investors on Tuesday morning, The Fly reports.

CHRS has been the subject of a number of other research reports. HC Wainwright decreased their price objective on shares of Coherus BioSciences from $26.00 to $24.00 in a research note on Tuesday, May 9th. Mizuho lifted their target price on shares of Coherus BioSciences from $21.00 to $23.00 in a research note on Tuesday, March 14th. Maxim Group decreased their target price on shares of Coherus BioSciences from $15.00 to $12.00 in a research note on Friday, May 12th. Truist Financial initiated coverage on shares of Coherus BioSciences in a research note on Monday, May 1st. They set a buy rating and a $24.00 target price for the company. Finally, StockNews.com initiated coverage on shares of Coherus BioSciences in a research note on Thursday, May 18th. They set a hold rating for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Coherus BioSciences presently has a consensus rating of Moderate Buy and an average target price of $16.14.

Coherus BioSciences Stock Up 2.2 %

CHRS opened at $4.56 on Tuesday. The firm has a market cap of $367.31 million, a price-to-earnings ratio of -1.31 and a beta of 0.95. Coherus BioSciences has a fifty-two week low of $4.36 and a fifty-two week high of $14.11. The company’s 50-day moving average price is $6.74 and its 200 day moving average price is $7.36.

Coherus BioSciences (NASDAQ:CHRS – Get Rating) last announced its quarterly earnings results on Monday, March 6th. The biotechnology company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.12). The business had revenue of $45.35 million for the quarter, compared to the consensus estimate of $45.72 million. During the same quarter in the prior year, the firm earned ($0.60) EPS. Research analysts anticipate that Coherus BioSciences will post -2.05 earnings per share for the current year.

Institutional Trading of Coherus BioSciences

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Coherus BioSciences by 2.2% during the 1st quarter. BlackRock Inc. now owns 14,397,565 shares of the biotechnology company’s stock worth $98,479,000 after buying an additional 315,269 shares during the last quarter. State Street Corp raised its stake in Coherus BioSciences by 23.6% in the 2nd quarter. State Street Corp now owns 6,383,103 shares of the biotechnology company’s stock worth $46,214,000 after purchasing an additional 1,218,951 shares in the last quarter. Alliancebernstein L.P. raised its stake in Coherus BioSciences by 1.8% in the 4th quarter. Alliancebernstein L.P. now owns 6,217,558 shares of the biotechnology company’s stock worth $49,243,000 after purchasing an additional 110,697 shares in the last quarter. Vanguard Group Inc. raised its stake in Coherus BioSciences by 7.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,228,701 shares of the biotechnology company’s stock worth $50,248,000 after purchasing an additional 345,286 shares in the last quarter. Finally, Aristotle Capital Boston LLC raised its stake in Coherus BioSciences by 8.0% in the 1st quarter. Aristotle Capital Boston LLC now owns 2,254,102 shares of the biotechnology company’s stock worth $15,418,000 after purchasing an additional 167,528 shares in the last quarter. Institutional investors and hedge funds own 99.45% of the company’s stock.

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.