Coherus BioSciences (NASDAQ:CHRS) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Coherus BioSciences (NASDAQ:CHRS) from a hold rating to a sell rating in a research note published on Tuesday.

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

Coherus BioSciences Price Performance

Shares of NASDAQ:CHRS opened at $0.82 on Tuesday. The company’s 50 day simple moving average is $0.92 and its 200 day simple moving average is $1.13. The stock has a market capitalization of $94.61 million, a price-to-earnings ratio of -10.20 and a beta of 1.01. Coherus BioSciences has a 1 year low of $0.66 and a 1 year high of $2.43.

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

Hedge Funds Weigh In On Coherus BioSciences

A number of hedge funds have recently modified their holdings of the business. Bank of Montreal Can bought a new position in Coherus BioSciences during the 4th quarter worth $34,000. Intech Investment Management LLC bought a new position in Coherus BioSciences during the 4th quarter worth $38,000. CWM LLC raised its position in Coherus BioSciences by 96.6% during the 1st quarter. CWM LLC now owns 49,793 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 24,468 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Coherus BioSciences by 97.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,847 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 15,214 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Coherus BioSciences by 84.0% in the first quarter. Cerity Partners LLC now owns 54,676 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 24,953 shares during the period. Institutional investors and hedge funds own 72.82% of the company’s stock.

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.