5,283,292 Shares in Coherus BioSciences, Inc. (NASDAQ:CHRS) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new stake in Coherus BioSciences, Inc. (NASDAQ:CHRS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,283,292 shares of the biotechnology company’s stock, valued at approximately $7,291,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in shares of Coherus BioSciences in the fourth quarter worth about $34,000. Intech Investment Management LLC purchased a new position in shares of Coherus BioSciences in the fourth quarter worth about $38,000. The Manufacturers Life Insurance Company purchased a new position in shares of Coherus BioSciences in the fourth quarter worth about $52,000. Ieq Capital LLC purchased a new position in shares of Coherus BioSciences in the fourth quarter worth about $68,000. Finally, Wells Fargo & Company MN raised its stake in shares of Coherus BioSciences by 32.4% in the fourth quarter. Wells Fargo & Company MN now owns 61,830 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 15,137 shares during the last quarter. 72.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com cut Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Tuesday. UBS Group reiterated a “neutral” rating and set a $1.05 price target (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 report on Tuesday, April 29th.

Coherus BioSciences Price Performance

Coherus BioSciences stock opened at $0.80 on Tuesday. The stock has a market capitalization of $92.75 million, a PE ratio of -10.00 and a beta of 1.01. Coherus BioSciences, Inc. has a 12 month low of $0.66 and a 12 month high of $2.43. The business has a 50 day simple moving average of $0.93 and a 200-day simple moving average of $1.13.

Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings data on Monday, May 12th. The biotechnology company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The firm had revenue of $7.60 million during the quarter, compared to analyst estimates of $59.79 million. During the same period in the previous year, the business earned ($0.32) EPS. On average, equities research analysts anticipate that Coherus BioSciences, Inc. will post -1.05 EPS for the current fiscal year.

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.