Coherus BioSciences (NASDAQ:CHRS) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.28 and traded as high as $1.53. Coherus BioSciences shares last traded at $1.50, with a volume of 1,921,419 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CHRS shares. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Coherus BioSciences in a research note on Wednesday, December 4th. Robert W. Baird upped their target price on Coherus BioSciences from $4.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Finally, StockNews.com lowered Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.38.

Coherus BioSciences Trading Up 0.7 %

The company has a market cap of $172.82 million, a PE ratio of -18.75 and a beta of 0.86. The business has a 50 day simple moving average of $1.17 and a two-hundred day simple moving average of $1.28.

Institutional Trading of Coherus BioSciences

A number of institutional investors and hedge funds have recently made changes to their positions in CHRS. Los Angeles Capital Management LLC increased its holdings in shares of Coherus BioSciences by 344.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 930,132 shares of the biotechnology company’s stock worth $967,000 after buying an additional 720,672 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Coherus BioSciences during the 2nd quarter worth $1,246,000. Marshall Wace LLP increased its holdings in shares of Coherus BioSciences by 177.3% during the 2nd quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock worth $727,000 after buying an additional 268,763 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Coherus BioSciences by 159.2% during the 2nd quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock worth $683,000 after buying an additional 242,500 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of Coherus BioSciences by 304.9% during the 2nd quarter. XTX Topco Ltd now owns 271,433 shares of the biotechnology company’s stock worth $470,000 after buying an additional 204,391 shares during the last quarter. 72.82% of the stock is currently owned by institutional investors and hedge funds.

Coherus BioSciences Company Profile

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of cancer treatments primarily in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; LOQTORZI, a novel PD-1 inhibitor; and Casdozokitug, an investigational recombinant human immunoglobulin isotype G1 (IgG1) monoclonal antibody targeting interleukin 27.