Brokerages Set Coherus Biosciences Inc (CHRS) Target Price at $31.63

Coherus Biosciences Inc (NASDAQ:CHRS) has received a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $31.63.

Several brokerages recently weighed in on CHRS. Zacks Investment Research cut shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. ValuEngine cut shares of Coherus Biosciences from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. BidaskClub raised shares of Coherus Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. Citigroup raised their price target on shares of Coherus Biosciences from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, March 9th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $15.00 price target (down previously from $20.00) on shares of Coherus Biosciences in a research report on Friday, March 9th.

A number of hedge funds and other institutional investors have recently made changes to their positions in CHRS. Temasek Holdings Private Ltd bought a new position in Coherus Biosciences in the 3rd quarter valued at about $87,524,000. Citadel Advisors LLC lifted its position in shares of Coherus Biosciences by 819.9% during the 4th quarter. Citadel Advisors LLC now owns 1,772,241 shares of the biotechnology company’s stock worth $15,595,000 after buying an additional 1,579,582 shares in the last quarter. Millennium Management LLC lifted its position in shares of Coherus Biosciences by 543.6% during the 4th quarter. Millennium Management LLC now owns 695,286 shares of the biotechnology company’s stock worth $6,119,000 after buying an additional 587,248 shares in the last quarter. State of Wisconsin Investment Board lifted its position in shares of Coherus Biosciences by 70.8% during the 4th quarter. State of Wisconsin Investment Board now owns 919,000 shares of the biotechnology company’s stock worth $8,087,000 after buying an additional 381,000 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Coherus Biosciences by 26.8% during the 2nd quarter. State Street Corp now owns 1,416,572 shares of the biotechnology company’s stock worth $20,329,000 after buying an additional 298,986 shares in the last quarter. 82.70% of the stock is currently owned by institutional investors and hedge funds.

Shares of Coherus Biosciences (NASDAQ CHRS) traded up $0.35 on Friday, hitting $12.50. The stock had a trading volume of 1,362,265 shares, compared to its average volume of 903,950. The company has a debt-to-equity ratio of 3.33, a quick ratio of 5.12 and a current ratio of 5.12. The firm has a market cap of $751.77, a P/E ratio of -2.75 and a beta of 3.62. Coherus Biosciences has a 12 month low of $8.05 and a 12 month high of $24.70.

Coherus Biosciences (NASDAQ:CHRS) last issued its earnings results on Thursday, March 8th. The biotechnology company reported ($0.84) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.86) by $0.02. Coherus Biosciences had a negative return on equity of 493.03% and a negative net margin of 73.89%. equities research analysts predict that Coherus Biosciences will post -3 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Coherus Biosciences (NASDAQ:CHRS)

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