Royce & Associates LP Grows Holdings in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Posted August 6, 2022

In Uncategorized

Royce & Associates LP boosted its holdings in Coherus BioSciences, Inc. (NASDAQ:CHRS – Get Rating) by 194.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,947 shares of the biotechnology company’s stock after purchasing an additional 94,318 shares during the quarter. Royce & Associates LP owned about 0.18% of Coherus BioSciences worth $1,845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CHRS. Allspring Global Investments Holdings LLC purchased a new stake in Coherus BioSciences in the 4th quarter valued at $857,000. Yousif Capital Management LLC purchased a new position in Coherus BioSciences during the 4th quarter worth $939,000. Qube Research & Technologies Ltd purchased a new position in Coherus BioSciences during the 4th quarter worth $645,000. DekaBank Deutsche Girozentrale raised its position in Coherus BioSciences by 2.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 106,000 shares of the biotechnology company’s stock worth $1,804,000 after buying an additional 2,900 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Coherus BioSciences by 3.2% during the 4th quarter. New York State Common Retirement Fund now owns 169,002 shares of the biotechnology company’s stock worth $2,697,000 after buying an additional 5,249 shares during the last quarter. Hedge funds and other institutional investors own 97.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CHRS. UBS Group began coverage on shares of Coherus BioSciences in a research report on Monday, June 13th. They set a “neutral” rating and a $7.00 price objective for the company. Mizuho cut their price objective on shares of Coherus BioSciences from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 20th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Coherus BioSciences in a report on Tuesday, May 3rd. Finally, Barclays cut their price target on shares of Coherus BioSciences from $20.00 to $15.00 in a report on Monday, May 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Coherus BioSciences Stock Performance

Shares of CHRS opened at $11.83 on Friday. The company has a 50-day simple moving average of $7.82 and a 200-day simple moving average of $10.00. The company has a quick ratio of 3.09, a current ratio of 3.33 and a debt-to-equity ratio of 33.47. The company has a market capitalization of $915.91 million, a PE ratio of -4.33 and a beta of 1.19. Coherus BioSciences, Inc. has a 52-week low of $5.60 and a 52-week high of $19.32.

Coherus BioSciences (NASDAQ:CHRS – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.17. Coherus BioSciences had a negative net margin of 69.24% and a negative return on equity of 211.68%. During the same period in the previous year, the business posted ($0.40) EPS. Equities research analysts predict that Coherus BioSciences, Inc. will post -3.71 earnings per share for the current fiscal year.

About Coherus BioSciences

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Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the biosimilar and immuno-oncology market primarily in the United States. The company markets UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte stimulating colony factor in the United States. Its pipeline products include biosimilars of Humira, Avastin, and Lucentis.