The Manufacturers Life Insurance Company Takes Position in Coherus BioSciences, Inc. (NASDAQ:CHRS)

The Manufacturers Life Insurance Company acquired a new position in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 37,903 shares of the biotechnology company’s stock, valued at approximately $52,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CHRS. Los Angeles Capital Management LLC increased its position 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 acquiring an additional 186,010 shares during the last quarter. Savant Capital LLC purchased a new position in shares of Coherus BioSciences during the 4th quarter worth approximately $130,000. Bank of New York Mellon Corp increased its holdings in Coherus BioSciences by 26.6% in the 4th quarter. Bank of New York Mellon Corp now owns 391,002 shares of the biotechnology company’s stock valued at $540,000 after purchasing an additional 82,222 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in Coherus BioSciences in the fourth quarter valued at approximately $101,000. Finally, Tyche Wealth Partners LLC raised its position in Coherus BioSciences by 23.6% in the fourth 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 during the period. 72.82% of the stock is currently owned by hedge funds and other institutional investors.

Coherus BioSciences Trading Up 5.1%

Coherus BioSciences stock opened at $0.80 on Tuesday. 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, Inc. has a twelve month low of $0.66 and a twelve month high of $2.43. The stock’s fifty day simple moving average is $0.93 and its 200-day simple moving average is $1.13.

Coherus BioSciences (NASDAQ:CHRS) last released its earnings results on Monday, May 12th. The biotechnology company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The company had revenue of $7.60 million during the quarter, compared to analysts’ expectations of $59.79 million. During the same period last year, the firm earned ($0.32) earnings per share. Sell-side analysts predict that Coherus BioSciences, Inc. will post -1.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com cut Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Tuesday. UBS Group reaffirmed a “neutral” rating and issued a $1.05 target price (down from $1.50) on shares of Coherus BioSciences in a research report on Thursday, April 24th. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Coherus BioSciences in a research note on Tuesday, April 29th.

Coherus BioSciences Profile

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.