Coherus BioSciences Inc. (NASDAQ:CHRS) insider Alan C. Herman sold 11,333 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $25.69, for a total value of $291,144.77. Following the completion of the sale, the insider now directly owns 161,687 shares of the company’s stock, valued at $4,153,739.03. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Coherus BioSciences Inc. (NASDAQ:CHRS) traded up 5.03% during trading on Friday, reaching $26.52. The company’s stock had a trading volume of 25,192 shares. Coherus BioSciences Inc. has a one year low of $12.04 and a one year high of $31.98. The company has a 50-day moving average of $29.40 and a 200 day moving average of $22.91. The firm’s market cap is $1.15 billion.
Coherus BioSciences (NASDAQ:CHRS) last posted its earnings results on Tuesday, August 9th. The company reported ($1.72) earnings per share for the quarter, missing the Zacks’ 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 return on equity of 1,583.92% and a negative net margin of 591.61%. Analysts expect that Coherus BioSciences Inc. will post ($6.22) EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in Coherus BioSciences by 2.1% in the second quarter. Citigroup Inc. now owns 17,433 shares of the company’s stock worth $294,000 after buying an additional 351 shares during the last quarter. ProShare Advisors LLC increased its position in Coherus BioSciences by 2.9% in the second quarter. ProShare Advisors LLC now owns 32,741 shares of the company’s stock worth $553,000 after buying an additional 912 shares during the last quarter. CAM Group Holding A S increased its position in Coherus BioSciences by 1.7% in the second quarter. CAM Group Holding A S now owns 151,000 shares of the company’s stock worth $2,550,000 after buying an additional 2,500 shares during the last quarter. American International Group Inc. increased its position in Coherus BioSciences by 22.9% in the second quarter. American International Group Inc. now owns 16,977 shares of the company’s stock worth $287,000 after buying an additional 3,166 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Coherus BioSciences by 16.7% in the second quarter. Alliancebernstein L.P. now owns 32,920 shares of the company’s stock worth $556,000 after buying an additional 4,700 shares during the last quarter. 58.37% of the stock is owned by institutional investors.
CHRS has been the subject of a number of research analyst reports. Zacks Investment Research lowered Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Monday, August 15th. Barclays PLC reaffirmed a “buy” rating and issued a $46.00 target price on shares of Coherus BioSciences in a research report on Thursday, August 11th. Citigroup Inc. initiated coverage on Coherus BioSciences in a research report on Wednesday, July 27th. They issued a “buy” rating and a $36.00 target price for the company. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $38.00 target price on shares of Coherus BioSciences in a research report on Wednesday, September 28th. Finally, Maxim Group began coverage on Coherus BioSciences in a research note on Wednesday, September 7th. They set a “buy” rating and a $43.00 price target for the company. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $36.50.
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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