Robert W. Baird initiated coverage on shares of Coherus BioSciences Inc. (NASDAQ:CHRS) in a research note published on Tuesday morning. The firm issued an outperform rating and a $40.00 target price on the stock.
Several other research firms also recently weighed in on CHRS. Credit Suisse Group AG set a $38.00 price target on shares of Coherus BioSciences and gave the company a buy rating in a research note on Saturday, September 17th. Maxim Group assumed coverage on shares of Coherus BioSciences in a research report on Wednesday, September 7th. They set a buy rating and a $43.00 target price for the company. Zacks Investment Research downgraded shares of Coherus BioSciences from a hold rating to a sell rating in a research report on Monday, August 15th. Barclays PLC reissued a buy rating and set a $46.00 target price on shares of Coherus BioSciences in a research report on Thursday, August 11th. 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 price objective for the company. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $37.00.
Shares of Coherus BioSciences (NASDAQ:CHRS) traded up 1.44% during midday trading on Tuesday, reaching $29.64. 43,069 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $29.09 and a 200 day moving average price of $23.41. The firm’s market cap is $1.29 billion. Coherus BioSciences has a 12 month low of $12.04 and a 12 month high of $31.98.
Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($1.72) earnings per share for the quarter, missing the consensus estimate of ($1.32) by $0.40. Coherus BioSciences had a negative net margin of 591.61% and a negative return on equity of 1,583.92%. The company earned $14.07 million during the quarter, compared to the consensus estimate of $6.87 million. Equities research analysts predict that Coherus BioSciences will post ($6.22) earnings per share for the current year.
In other Coherus BioSciences news, CFO Jean-Frederic Viret sold 3,900 shares of the stock in a transaction on Monday, September 26th. The shares were sold at an average price of $29.88, for a total transaction of $116,532.00. Following the completion of the sale, the chief financial officer now owns 6,225 shares of the company’s stock, valued at approximately $186,003. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alan C. Herman sold 11,333 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $25.54, for a total transaction of $289,444.82. Following the sale, the insider now directly owns 186,782 shares of the company’s stock, valued at approximately $4,770,412.28. The disclosure for this sale can be found here. Company insiders own 32.88% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Coherus BioSciences by 440.1% in the second quarter. BlackRock Inc. now owns 7,659 shares of the company’s stock valued at $129,000 after buying an additional 6,241 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Coherus BioSciences during the third quarter valued at approximately $225,000. Bourgeon Capital Management LLC bought a new stake in Coherus BioSciences during the second quarter valued at approximately $226,000. Jennison Associates LLC bought a new stake in Coherus BioSciences during the second quarter valued at approximately $228,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in Coherus BioSciences during the second quarter valued at approximately $241,000. 58.39% of the stock is owned by institutional investors and hedge funds.
About Coherus BioSciences
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.
Receive News & Ratings for Coherus BioSciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherus BioSciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.