Coherus BioSciences Inc. (NASDAQ:CHRS)‘s stock had its “overweight” rating restated by Barclays PLC in a research note issued on Tuesday. They presently have a $46.00 price target on the stock. Barclays PLC’s price target suggests a potential upside of 80.75% from the company’s previous close.
Several other equities research analysts have also recently commented on CHRS. Credit Suisse Group AG set a $38.00 target price on shares of Coherus BioSciences and gave the stock a “buy” rating in a research report on Saturday, September 17th. Zacks Investment Research raised shares of Coherus BioSciences from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Maxim Group initiated coverage on shares of Coherus BioSciences in a research report on Wednesday, September 7th. They issued a “buy” rating and a $43.00 target price for the company. Finally, Citigroup Inc. initiated coverage on shares of Coherus BioSciences in a research report on Wednesday, July 27th. They issued a “buy” rating and a $36.00 target price for the company. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $36.50.
Shares of Coherus BioSciences (NASDAQ:CHRS) traded down 0.47% during midday trading on Tuesday, reaching $25.33. 348,896 shares of the company’s stock were exchanged. The stock’s market capitalization is $1.10 billion. The firm has a 50-day moving average of $29.76 and a 200-day moving average of $22.83. Coherus BioSciences has a 12-month low of $12.04 and a 12-month high of $31.98.
Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($1.72) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.40. The firm had revenue of $14.07 million for the quarter, compared to analysts’ expectations of $6.87 million. Coherus BioSciences had a negative net margin of 591.61% and a negative return on equity of 1,583.92%. Analysts anticipate that Coherus BioSciences will post ($6.19) EPS for the current fiscal year.
In related news, insider Peter K. Watler sold 43,495 shares of Coherus BioSciences stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $20.02, for a total transaction of $870,769.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jean-Frederic Viret sold 3,900 shares of Coherus BioSciences stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $29.88, for a total transaction of $116,532.00. Following the transaction, the chief financial officer now directly owns 6,225 shares of the company’s stock, valued at $186,003. The disclosure for this sale can be found here. Corporate insiders own 32.88% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its stake in Coherus BioSciences by 9.0% in the second quarter. FMR LLC now owns 6,396,228 shares of the company’s stock worth $108,032,000 after buying an additional 530,715 shares in the last quarter. Kohlberg Kravis Roberts & Co. L.P. purchased a new stake in Coherus BioSciences during the second quarter worth $51,600,000. JPMorgan Chase & Co. raised its stake in Coherus BioSciences by 28.2% in the first quarter. JPMorgan Chase & Co. now owns 2,122,551 shares of the company’s stock worth $45,062,000 after buying an additional 466,388 shares in the last quarter. BlackRock Fund Advisors raised its stake in Coherus BioSciences by 13.3% in the second quarter. BlackRock Fund Advisors now owns 1,268,735 shares of the company’s stock worth $21,429,000 after buying an additional 148,600 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Coherus BioSciences by 53.7% in the second quarter. Vanguard Group Inc. now owns 1,008,298 shares of the company’s stock worth $17,030,000 after buying an additional 352,103 shares in the last quarter. 58.37% of the stock is owned by institutional investors.
Coherus BioSciences Company Profile
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is focused on the global biosimilar market. The Company operates through developing and commercializing biosimilar products segment. Its business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta), in late clinical-stage, and bevacizumab (Avastin), in preclinical-stage; Immunology (Anti-TNF) biosimilar candidates, etanercept (Enbrel) and adalimumab (Humira), which are both in late clinical-stage; Ophthalmology biosimilar candidate ranibizumab (Lucentis) in preclinical stage, and Multiple sclerosis small molecule therapeutic candidate, CHS-131 (formerly INT-131), in Phase II proof-of-concept trial.
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