Coherus Biosciences Inc (CHRS) Receives $30.75 Average Target Price from Analysts

Coherus Biosciences Inc (NASDAQ:CHRS) has been assigned an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $30.75.

Several research analysts have recently commented on the stock. ValuEngine raised shares of Coherus Biosciences from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Zacks Investment Research downgraded shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. HC Wainwright set a $28.00 price target on shares of Coherus Biosciences and gave the stock a “buy” rating in a research note on Monday, November 5th. Cowen reiterated a “buy” rating and issued a $45.00 price target on shares of Coherus Biosciences in a research note on Friday, November 2nd. Finally, BidaskClub upgraded shares of Coherus Biosciences from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 10th.

Institutional investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its stake in Coherus Biosciences by 12.3% in the fourth quarter. Legal & General Group Plc now owns 9,095 shares of the biotechnology company’s stock worth $82,000 after acquiring an additional 998 shares during the last quarter. Roman Butler Fullerton & Co. purchased a new position in Coherus Biosciences in the fourth quarter worth approximately $122,000. State Board of Administration of Florida Retirement System lifted its stake in Coherus Biosciences by 16.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 22,095 shares of the biotechnology company’s stock worth $200,000 after acquiring an additional 3,122 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Coherus Biosciences in the third quarter worth approximately $282,000. Finally, Boston Advisors LLC lifted its stake in Coherus Biosciences by 12.7% in the fourth quarter. Boston Advisors LLC now owns 33,060 shares of the biotechnology company’s stock worth $299,000 after acquiring an additional 3,725 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Shares of NASDAQ CHRS traded up $0.02 during midday trading on Monday, hitting $14.36. The company’s stock had a trading volume of 1,232,815 shares, compared to its average volume of 704,263. The company has a debt-to-equity ratio of 8.29, a quick ratio of 5.31 and a current ratio of 5.31. Coherus Biosciences has a 1 year low of $8.32 and a 1 year high of $20.66. The firm has a market cap of $976.91 million, a price-to-earnings ratio of -4.46 and a beta of 3.66.

Coherus Biosciences Company Profile

Coherus BioSciences, Inc, a biosimilar company, develops and commercializes various therapeutic products worldwide. The company engages in the development of late-stage clinical products, including CHS-1701 pegfilgrastim biosimilar, a granulocyte colony-stimulating factor product candidate; CHS-1420 adalimumab biosimilar, an anti-tumor necrosis factor product candidate; and CHS-0214, an etanercept biosimilar for rheumatoid arthritis and psoriasis.

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