Zacks Investment Research Upgrades Coherus BioSciences (NASDAQ:CHRS) to Hold

Zacks Investment Research upgraded shares of Coherus BioSciences (NASDAQ:CHRS) from a sell rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

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. “

Separately, HC Wainwright reduced their price objective on shares of Coherus BioSciences from $36.00 to $30.00 and set a buy rating on the stock in a research note on Tuesday, November 9th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Coherus BioSciences currently has a consensus rating of Buy and a consensus price target of $24.40.

NASDAQ CHRS opened at $13.90 on Tuesday. Coherus BioSciences has a 12 month low of $12.21 and a 12 month high of $22.22. The company has a current ratio of 2.10, a quick ratio of 1.98 and a debt-to-equity ratio of 2.16. The company’s fifty day moving average price is $17.23 and its two-hundred day moving average price is $15.97.

Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings data on Sunday, November 7th. The biotechnology company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.12). Coherus BioSciences had a negative net margin of 63.72% and a negative return on equity of 133.21%. The company had revenue of $82.50 million for the quarter, compared to the consensus estimate of $86.96 million. During the same quarter last year, the company earned $0.33 earnings per share. Analysts predict that Coherus BioSciences will post -2.58 EPS for the current year.

Several large investors have recently modified their holdings of CHRS. BlackRock Inc. raised its holdings in shares of Coherus BioSciences by 7.2% during the second quarter. BlackRock Inc. now owns 12,020,457 shares of the biotechnology company’s stock worth $166,245,000 after purchasing an additional 810,277 shares during the period. Suvretta Capital Management LLC acquired a new stake in shares of Coherus BioSciences during the third quarter worth $7,864,000. Nordea Investment Management AB raised its holdings in shares of Coherus BioSciences by 96.1% during the third quarter. Nordea Investment Management AB now owns 700,614 shares of the biotechnology company’s stock worth $11,504,000 after purchasing an additional 343,312 shares during the period. Bank of Montreal Can raised its holdings in shares of Coherus BioSciences by 54.4% during the second quarter. Bank of Montreal Can now owns 852,446 shares of the biotechnology company’s stock worth $12,207,000 after purchasing an additional 300,252 shares during the period. Finally, Phocas Financial Corp. increased its holdings in shares of Coherus BioSciences by 100.9% in the 3rd quarter. Phocas Financial Corp. now owns 504,936 shares of the biotechnology company’s stock worth $8,114,000 after acquiring an additional 253,578 shares during the period. 98.25% of the stock is currently owned by institutional investors.

Coherus BioSciences Company Profile

Coherus BioSciences, Inc is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of biosimilar therapeutics. Its products include UDENYCA and Coherus COMPLETE. The company was founded by Dennis M. Lanfear, Stuart E. Builder, Dr. Alan Herman, Doug Farrar and Steve Glover in September 2010 and is headquartered in Redwood City, CA.

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