Coherus Biosciences (CHRS) Upgraded by Zacks Investment Research to “Buy”
Coherus Biosciences (NASDAQ:CHRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $11.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target points to a potential downside of 3.51% from the company’s previous close.
According to Zacks, “Coherus Biosciences, Inc. is a biologics platform company developing biosimilar therapeutics. Its clinical stage pipeline consists of CHS-0214 in two Phase III clinical trials for the treatment of rheumatoid arthritis and psoriasis; CHS-1420 that has completed a Phase I study to treat psoriasis or rheumatoid arthritis; and CHS-1701 which has completed a Phase I study for the treatment of breast cancer patients. Coherus Biosciences, Inc. is headquartered in Redwood City, California. “
A number of other equities analysts also recently commented on CHRS. Credit Suisse Group restated an “outperform” rating and set a $17.00 price objective (down from $24.00) on shares of Coherus Biosciences in a research note on Wednesday, September 27th. BidaskClub upgraded shares of Coherus Biosciences from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Maxim Group reiterated a “buy” rating and issued a $20.00 target price (down from $40.00) on shares of Coherus Biosciences in a research note on Friday, September 8th. ValuEngine downgraded shares of Coherus Biosciences from a “sell” rating to a “strong sell” rating in a research note on Friday, November 10th. Finally, Cowen reiterated an “outperform” rating and issued a $45.00 target price on shares of Coherus Biosciences in a research note on Friday, September 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Coherus Biosciences has a consensus rating of “Buy” and an average target price of $29.67.
Coherus Biosciences (NASDAQ:CHRS) last released its earnings results on Monday, November 6th. The biotechnology company reported ($1.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.83) by ($0.26). Coherus Biosciences had a negative return on equity of 582.31% and a negative net margin of 73.89%. equities analysts expect that Coherus Biosciences will post -4.39 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in CHRS. Schwab Charles Investment Management Inc. increased its holdings in shares of Coherus Biosciences by 20.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 161,366 shares of the biotechnology company’s stock worth $2,316,000 after purchasing an additional 27,064 shares during the period. Rhumbline Advisers increased its holdings in shares of Coherus Biosciences by 16.9% during the second quarter. Rhumbline Advisers now owns 42,282 shares of the biotechnology company’s stock worth $607,000 after purchasing an additional 6,105 shares during the period. SG Americas Securities LLC increased its stake in Coherus Biosciences by 32.7% in the second quarter. SG Americas Securities LLC now owns 7,244 shares of the biotechnology company’s stock valued at $104,000 after acquiring an additional 1,785 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Coherus Biosciences by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 169,840 shares of the biotechnology company’s stock valued at $2,437,000 after acquiring an additional 4,700 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Coherus Biosciences by 12.6% in the second quarter. Legal & General Group Plc now owns 9,341 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 1,046 shares during the last quarter. 81.00% of the stock is currently owned by institutional investors.
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Coherus Biosciences Company Profile
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is engaged in the business of developing and commercializing biosimilar products. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta) and bevacizumab (Avastin); Immunology (Anti-TNF) biosimilar candidates etanercept (Enbrel) and adalimumab (Humira); Ophthalmology biosimilar candidate ranibizumab (Lucentis), and Multiple sclerosis small molecule therapeutic candidate, CHS-131.
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