Coherus BioSciences Inc. (NASDAQ:CHRS) has been given an average recommendation of “Buy” by the six ratings firms that are currently covering the company. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $39.60.
Several brokerages recently issued reports on CHRS. Maxim Group set a $43.00 target price on Coherus BioSciences and gave the company a “buy” rating in a research note on Saturday, October 8th. Credit Suisse Group AG set a $38.00 price target on Coherus BioSciences and gave the company a “buy” rating in a report on Saturday, September 17th. Zacks Investment Research upgraded Coherus BioSciences from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Citigroup Inc. began coverage on Coherus BioSciences in a report on Wednesday, July 27th. They set a “buy” rating and a $36.00 price target for the company. Finally, Barclays PLC restated an “overweight” rating and set a $46.00 price target on shares of Coherus BioSciences in a report on Tuesday, October 4th.
Coherus BioSciences (NASDAQ:CHRS) opened at 28.18 on Wednesday. Coherus BioSciences has a one year low of $12.04 and a one year high of $31.98. The company’s market cap is $1.22 billion. The company’s 50 day moving average price is $29.11 and its 200-day moving average price is $23.25.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Tuesday, August 9th. The company reported ($1.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by $0.40. The business had revenue of $14.07 million for the quarter, compared to the consensus estimate of $6.87 million. Coherus BioSciences had a negative net margin of 591.61% and a negative return on equity of 1,583.92%. On average, analysts forecast that Coherus BioSciences will post ($6.22) EPS for the current fiscal year.
In other news, insider Alan C. Herman sold 11,333 shares of Coherus BioSciences stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $25.69, for a total value of $291,144.77. Following the completion of the transaction, the insider now owns 161,687 shares in the company, valued at approximately $4,153,739.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Peter K. Watler sold 73,741 shares of Coherus BioSciences stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $25.02, for a total value of $1,844,999.82. Following the completion of the transaction, the insider now owns 50,000 shares of the company’s stock, valued at approximately $1,251,000. The disclosure for this sale can be found here. 32.88% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of Coherus BioSciences by 23.8% in the second quarter. California State Teachers Retirement System now owns 61,840 shares of the company’s stock worth $1,044,000 after buying an additional 11,902 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Coherus BioSciences by 36.2% in the second quarter. Bank of New York Mellon Corp now owns 137,857 shares of the company’s stock worth $2,328,000 after buying an additional 36,650 shares during the period. CAM Group Holding A S boosted its position in shares of 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 period. Iguana Healthcare Management LLC boosted its position in shares of Coherus BioSciences by 29.2% in the first quarter. Iguana Healthcare Management LLC now owns 96,901 shares of the company’s stock worth $2,057,000 after buying an additional 21,901 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Coherus BioSciences by 107,900.0% in the first quarter. Royal Bank of Canada now owns 16,200 shares of the company’s stock worth $344,000 after buying an additional 16,185 shares during the period. Hedge funds and other institutional investors own 58.37% of the company’s stock.
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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