Vontobel Holding Ltd. Invests $50,000 in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Vontobel Holding Ltd. purchased a new position in Coherus BioSciences, Inc. (NASDAQ:CHRS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,000 shares of the biotechnology company’s stock, valued at approximately $50,000.

A number of other institutional investors have also recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of Coherus BioSciences by 3,105.3% in the 3rd quarter. Barclays PLC now owns 2,375,557 shares of the biotechnology company’s stock valued at $8,884,000 after purchasing an additional 2,301,444 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Coherus BioSciences by 10.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,782,127 shares of the biotechnology company’s stock valued at $36,585,000 after purchasing an additional 932,476 shares during the last quarter. Rafferty Asset Management LLC purchased a new stake in shares of Coherus BioSciences in the 3rd quarter valued at $3,277,000. Brandywine Global Investment Management LLC raised its holdings in shares of Coherus BioSciences by 64.7% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 666,245 shares of the biotechnology company’s stock valued at $2,492,000 after buying an additional 261,800 shares during the period. Finally, Profund Advisors LLC purchased a new stake in shares of Coherus BioSciences in the 3rd quarter valued at $546,000. 72.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHRS has been the topic of several research analyst reports. Robert W. Baird cut their price objective on Coherus BioSciences from $11.00 to $9.00 and set an “outperform” rating on the stock in a report on Tuesday, January 23rd. HC Wainwright cut their price objective on Coherus BioSciences from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. Finally, Truist Financial cut their price objective on Coherus BioSciences from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.29.

Coherus BioSciences Price Performance

Shares of NASDAQ CHRS opened at $2.02 on Thursday. The stock’s 50-day moving average is $2.37 and its two-hundred day moving average is $2.50. The company has a market cap of $229.27 million, a price-to-earnings ratio of -0.79 and a beta of 0.54. Coherus BioSciences, Inc. has a 1-year low of $1.43 and a 1-year high of $8.22.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings data on Wednesday, March 13th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.39). The firm had revenue of $91.52 million during the quarter, compared to analyst estimates of $105.30 million. Equities research analysts anticipate that Coherus BioSciences, Inc. will post -0.56 earnings per share for the current fiscal year.

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.