Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) traded up 6.6% during trading on Monday . The stock traded as high as $8.95 and last traded at $8.90. 1,040,095 shares traded hands during trading, an increase of 72% from the average session volume of 605,992 shares. The stock had previously closed at $8.35.
A number of analysts have recently issued reports on the stock. ValuEngine downgraded shares of Coherus BioSciences from a “sell” rating to a “strong sell” rating in a report on Friday, November 10th. Citigroup Inc. restated a “buy” rating and set a $23.00 target price on shares of Coherus BioSciences in a research note on Tuesday, November 7th. Zacks Investment Research cut shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Credit Suisse Group restated an “outperform” rating and set a $17.00 target price (down previously from $24.00) on shares of Coherus BioSciences in a research note on Wednesday, September 27th. Finally, Cowen and Company restated an “outperform” rating and set a $45.00 target price on shares of Coherus BioSciences in a research note on Friday, September 8th. Three investment analysts have rated the stock with a sell rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $31.00.
The company has a current ratio of 5.46, a quick ratio of 5.46 and a debt-to-equity ratio of 1.84.
A number of hedge funds and other institutional investors have recently modified their holdings of CHRS. SG Americas Securities LLC boosted its position in Coherus BioSciences by 32.7% in the 2nd quarter. SG Americas Securities LLC now owns 7,244 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 1,785 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Coherus BioSciences by 12.6% during the 2nd quarter. Legal & General Group Plc now owns 9,341 shares of the biotechnology company’s stock worth $134,000 after buying an additional 1,046 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Coherus BioSciences by 497.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,600 shares of the biotechnology company’s stock worth $168,000 after buying an additional 10,491 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Coherus BioSciences during the 2nd quarter worth approximately $185,000. Finally, Boston Advisors LLC acquired a new position in shares of Coherus BioSciences during the 2nd quarter worth approximately $244,000. Hedge funds and other institutional investors own 72.18% of the company’s stock.
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About Coherus BioSciences
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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