Coherus BioSciences (NASDAQ:CHRS) Stock Rating Lowered by StockNews.com

Coherus BioSciences (NASDAQ:CHRS) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Separately, HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Coherus BioSciences in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coherus BioSciences has an average rating of “Hold” and an average price target of $5.38.

Coherus BioSciences Trading Down 4.7 %

Coherus BioSciences stock opened at $1.01 on Tuesday. The company has a market capitalization of $117.06 million, a price-to-earnings ratio of -12.63 and a beta of 1.01. The stock’s 50 day moving average is $0.98 and its 200-day moving average is $1.12. Coherus BioSciences has a 12 month low of $0.66 and a 12 month high of $2.43.

Hedge Funds Weigh In On Coherus BioSciences

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. acquired a new position in Coherus BioSciences in the 4th quarter worth about $7,291,000. Tang Capital Management LLC raised its holdings in Coherus BioSciences by 55.3% in the 4th quarter. Tang Capital Management LLC now owns 3,650,000 shares of the biotechnology company’s stock valued at $5,037,000 after buying an additional 1,300,000 shares during the last quarter. Millennium Management LLC raised its stake in shares of Coherus BioSciences by 31.6% during the fourth quarter. Millennium Management LLC now owns 1,049,603 shares of the biotechnology company’s stock valued at $1,448,000 after acquiring an additional 252,092 shares during the last quarter. Stonepine Capital Management LLC acquired a new position in shares of Coherus BioSciences during the fourth quarter worth $345,000. Finally, Los Angeles Capital Management LLC grew its stake in shares of Coherus BioSciences by 20.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,116,142 shares of the biotechnology company’s stock worth $1,540,000 after purchasing an additional 186,010 shares during the last quarter. 72.82% of the stock is currently owned by institutional investors and hedge funds.

About Coherus BioSciences

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of cancer treatments primarily in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; LOQTORZI, a novel PD-1 inhibitor; and Casdozokitug, an investigational recombinant human immunoglobulin isotype G1 (IgG1) monoclonal antibody targeting interleukin 27.