Coherus BioSciences, Inc. (CHRS) Reaches New 52-Week Low at $11.65

Coherus BioSciences, Inc. (NASDAQ:CHRS) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $11.65 and last traded at $11.65, with a volume of 286,846 shares. The stock had previously closed at $12.60.

Several research analysts recently commented on CHRS shares. BidaskClub downgraded shares of Coherus BioSciences from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Maxim Group set a $43.00 price target on shares of Coherus BioSciences and gave the stock a “buy” rating in a research note on Monday, May 15th. Citigroup Inc. set a $38.00 target price on shares of Coherus BioSciences and gave the company a “buy” rating in a research report on Wednesday, May 17th. ValuEngine raised shares of Coherus BioSciences from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Credit Suisse Group set a $38.00 target price on shares of Coherus BioSciences and gave the company a “buy” rating in a research report on Monday, June 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $35.90.

The company’s 50-day moving average price is $13.84 and its 200-day moving average price is $19.76. The firm’s market cap is $591.76 million.

Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.29) by $0.21. The company had revenue of $1.40 million for the quarter. Coherus BioSciences had a negative net margin of 73.89% and a negative return on equity of 307.41%. On average, analysts expect that Coherus BioSciences, Inc. will post ($5.13) earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. FMR LLC raised its stake in shares of Coherus BioSciences by 17.2% in the first quarter. FMR LLC now owns 7,671,981 shares of the biotechnology company’s stock worth $162,262,000 after buying an additional 1,124,163 shares during the period. Vanguard Group Inc. raised its stake in shares of Coherus BioSciences by 88.8% in the first quarter. Vanguard Group Inc. now owns 2,209,244 shares of the biotechnology company’s stock worth $46,726,000 after buying an additional 1,039,402 shares during the period. Wellington Management Group LLP raised its stake in shares of Coherus BioSciences by 2.6% in the first quarter. Wellington Management Group LLP now owns 1,268,479 shares of the biotechnology company’s stock worth $26,829,000 after buying an additional 32,150 shares during the period. State Street Corp raised its stake in shares of Coherus BioSciences by 17.6% in the first quarter. State Street Corp now owns 1,117,586 shares of the biotechnology company’s stock worth $23,638,000 after buying an additional 167,111 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Coherus BioSciences by 79.5% in the first quarter. UBS Asset Management Americas Inc. now owns 900,317 shares of the biotechnology company’s stock worth $19,042,000 after buying an additional 398,644 shares during the period. Institutional investors own 72.07% 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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