Coherus Biosciences (CHRS) Downgraded by Zacks Investment Research to “Sell”

Coherus Biosciences (NASDAQ:CHRS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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. “

A number of other analysts also recently commented on CHRS. Credit Suisse Group set a $25.00 target price on shares of Coherus Biosciences and gave the stock a “buy” rating in a report on Thursday, March 7th. BidaskClub upgraded shares of Coherus Biosciences from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Finally, ValuEngine upgraded shares of Coherus Biosciences from a “hold” rating to a “buy” rating in a report on Monday, February 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $27.20.

NASDAQ CHRS opened at $14.51 on Wednesday. The company has a debt-to-equity ratio of 8.29, a quick ratio of 2.49 and a current ratio of 2.54. Coherus Biosciences has a 12 month low of $8.32 and a 12 month high of $20.66. The company has a market capitalization of $1.02 billion, a P/E ratio of -4.51 and a beta of 3.64.

Several hedge funds have recently added to or reduced their stakes in CHRS. Northern Trust Corp raised its holdings in shares of Coherus Biosciences by 18.7% during the second quarter. Northern Trust Corp now owns 566,700 shares of the biotechnology company’s stock valued at $7,934,000 after acquiring an additional 89,400 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Coherus Biosciences by 7.5% during the third quarter. Wells Fargo & Company MN now owns 264,068 shares of the biotechnology company’s stock valued at $4,358,000 after acquiring an additional 18,313 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Coherus Biosciences by 14.8% during the third quarter. Bank of New York Mellon Corp now owns 213,776 shares of the biotechnology company’s stock valued at $3,527,000 after acquiring an additional 27,489 shares during the period. BlackRock Inc. raised its holdings in shares of Coherus Biosciences by 11.7% during the third quarter. BlackRock Inc. now owns 4,627,525 shares of the biotechnology company’s stock valued at $76,354,000 after acquiring an additional 483,443 shares during the period. Finally, Trexquant Investment LP raised its holdings in shares of Coherus Biosciences by 481.8% during the third quarter. Trexquant Investment LP now owns 71,266 shares of the biotechnology company’s stock valued at $1,176,000 after acquiring an additional 59,016 shares during the period. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Coherus Biosciences

Coherus BioSciences, Inc, a biosimilar company, develops and commercializes various therapeutic products worldwide. The company engages in the development of late-stage clinical products, including CHS-1701 pegfilgrastim biosimilar, a granulocyte colony-stimulating factor product candidate; CHS-1420 adalimumab biosimilar, an anti-tumor necrosis factor product candidate; and CHS-0214, an etanercept biosimilar for rheumatoid arthritis and psoriasis.

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