Investors Purchase Large Volume of Coherus BioSciences Call Options (NASDAQ:CHRS)

Coherus BioSciences, Inc. (NASDAQ:CHRS) saw some unusual options trading activity on Monday. Traders bought 5,780 call options on the company. This is an increase of approximately 721% compared to the typical daily volume of 704 call options.

Institutional Trading of Coherus BioSciences

Institutional investors have recently bought and sold shares of the business. Marshall Wace LLP raised its stake in Coherus BioSciences by 298.5% during the 2nd quarter. Marshall Wace LLP now owns 2,283,391 shares of the biotechnology company’s stock worth $9,750,000 after acquiring an additional 1,710,463 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Coherus BioSciences by 9.7% in the 2nd quarter. BlackRock Inc. now owns 15,787,138 shares of the biotechnology company’s stock valued at $67,411,000 after purchasing an additional 1,389,573 shares during the last quarter. State Street Corp boosted its position in shares of Coherus BioSciences by 35.1% in 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 period. C WorldWide Group Holding A S boosted its position in shares of Coherus BioSciences by 107.7% in the 2nd quarter. C WorldWide Group Holding A S now owns 1,928,464 shares of the biotechnology company’s stock valued at $8,235,000 after purchasing an additional 1,000,000 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Coherus BioSciences during the 2nd quarter worth approximately $4,099,000. 91.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CHRS. Citigroup began coverage on shares of Coherus BioSciences in a report on Monday, July 24th. They issued a “buy” rating and a $12.00 target price for the company. Bank of America decreased their target price on Coherus BioSciences from $7.00 to $6.00 in a research note on Thursday, October 12th. Barclays dropped their target price on Coherus BioSciences from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Monday, October 23rd. Truist Financial reissued a “buy” rating and set a $20.00 price target on shares of Coherus BioSciences in a research report on Tuesday, September 26th. Finally, StockNews.com initiated coverage on shares of Coherus BioSciences in a report on Thursday, October 5th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.56.

Coherus BioSciences Stock Up 11.3 %

Shares of Coherus BioSciences stock opened at $3.35 on Wednesday. Coherus BioSciences has a 52-week low of $2.56 and a 52-week high of $10.99. The company has a market capitalization of $316.47 million, a P/E ratio of -1.01 and a beta of 0.95. The company has a 50 day moving average of $4.14 and a 200 day moving average of $4.80.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.17. The firm had revenue of $58.72 million for the quarter, compared to analysts’ expectations of $50.83 million. As a group, research analysts anticipate that Coherus BioSciences will post -1.97 earnings per share for the current fiscal year.

About Coherus BioSciences

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the biosimilar and immuno-oncology market primarily in the United States. The company provides UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; and CIMERLI, a biosimilar to Lucentis, a biosimilar product interchangeable with Lucentis for the treatment of neovascular age-related macular degeneration, macular edema following retinal vein occlusion, diabetic macular edema, diabetic retinopathy, and myopic choroidal neovascularization in the United States.