StockNews.com Downgrades Coherus BioSciences (NASDAQ:CHRS) to Sell

Coherus BioSciences (NASDAQ:CHRS) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

CHRS has been the topic of several other research reports. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Coherus BioSciences in a research report on Tuesday, April 29th. UBS Group restated a “neutral” rating and set a $1.05 price target (down previously from $1.50) on shares of Coherus BioSciences in a research report on Thursday, April 24th.

Coherus BioSciences Stock Up 5.1%

Shares of NASDAQ CHRS opened at $0.80 on Tuesday. The stock’s 50-day simple moving average is $0.93 and its two-hundred day simple moving average is $1.13. Coherus BioSciences has a twelve month low of $0.66 and a twelve month high of $2.43. The firm has a market capitalization of $92.75 million, a P/E ratio of -10.00 and a beta of 1.01.

Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings data on Monday, May 12th. The biotechnology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The company had revenue of $7.60 million for the quarter, compared to the consensus estimate of $59.79 million. During the same quarter last year, the business posted ($0.32) EPS. As a group, research analysts anticipate that Coherus BioSciences will post -1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CHRS. Tyche Wealth Partners LLC boosted its stake in shares of Coherus BioSciences by 23.6% in the 4th quarter. Tyche Wealth Partners LLC now owns 266,766 shares of the biotechnology company’s stock valued at $368,000 after purchasing an additional 50,864 shares in the last quarter. Savant Capital LLC bought a new stake in Coherus BioSciences in the fourth quarter worth $130,000. Ieq Capital LLC bought a new stake in Coherus BioSciences in the fourth quarter worth $68,000. Bank of New York Mellon Corp boosted its position in Coherus BioSciences by 26.6% during the fourth quarter. Bank of New York Mellon Corp now owns 391,002 shares of the biotechnology company’s stock valued at $540,000 after buying an additional 82,222 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in shares of Coherus BioSciences by 20.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,116,142 shares of the biotechnology company’s stock valued at $1,540,000 after buying an additional 186,010 shares during the last quarter. 72.82% of the stock is currently owned by institutional investors.

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.