Zacks Investment Research Downgrades Coherus Biosciences (CHRS) to Hold

Zacks Investment Research lowered shares of Coherus Biosciences (NASDAQ:CHRS) from a buy rating to a hold rating in a research report released on Tuesday.

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. “

Several other equities research analysts have also commented on the company. Citigroup reissued a buy rating and set a $23.00 price target on shares of Coherus Biosciences in a research note on Tuesday, November 7th. ValuEngine lowered Coherus Biosciences from a sell rating to a strong sell rating in a research note on Thursday, October 26th. BidaskClub raised Coherus Biosciences from a sell rating to a hold rating in a research note on Thursday, December 21st. Finally, Credit Suisse Group reissued an outperform rating and set a $17.00 price target (down previously from $24.00) on shares of Coherus Biosciences in a research note on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Coherus Biosciences has a consensus rating of Buy and a consensus target price of $29.67.

Shares of Coherus Biosciences (NASDAQ:CHRS) remained flat at $$12.30 on Tuesday. 450,200 shares of the company were exchanged, compared to its average volume of 1,013,629. Coherus Biosciences has a twelve month low of $8.05 and a twelve month high of $28.60. The company has a market cap of $712.73, a PE ratio of -2.27 and a beta of 3.89. The company has a current ratio of 5.46, a quick ratio of 5.46 and a debt-to-equity ratio of 1.84.

Coherus Biosciences (NASDAQ:CHRS) last announced its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($1.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.83) by ($0.26). Coherus Biosciences had a negative net margin of 73.89% and a negative return on equity of 582.31%. equities research analysts anticipate that Coherus Biosciences will post -4.39 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in CHRS. Schwab Charles Investment Management Inc. boosted its stake in shares of Coherus Biosciences by 20.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 161,366 shares of the biotechnology company’s stock worth $2,316,000 after acquiring an additional 27,064 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Coherus Biosciences by 16.9% during the 2nd quarter. Rhumbline Advisers now owns 42,282 shares of the biotechnology company’s stock worth $607,000 after acquiring an additional 6,105 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Coherus Biosciences by 32.7% during the 2nd quarter. SG Americas Securities LLC now owns 7,244 shares of the biotechnology company’s stock worth $104,000 after acquiring an additional 1,785 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Coherus Biosciences by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 169,840 shares of the biotechnology company’s stock worth $2,437,000 after acquiring an additional 4,700 shares in the last quarter. Finally, Legal & General Group Plc boosted 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 acquiring an additional 1,046 shares in the last quarter. 81.00% of the stock is currently owned by institutional investors and hedge funds.

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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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