Credit Suisse Group AG restated their buy rating on shares of Coherus BioSciences Inc. (NASDAQ:CHRS) in a report published on Wednesday morning. They currently have a $38.00 target price on the stock.
Other equities research analysts have also issued research reports about the company. Maxim Group initiated coverage on Coherus BioSciences in a research report on Wednesday, September 7th. They set a buy rating and a $43.00 target price on the stock. Barclays PLC restated a buy rating and set 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 set a buy rating and a $36.00 target price on the stock. Finally, Zacks Investment Research upgraded Coherus BioSciences from a sell rating to a hold rating in a report on Tuesday, July 12th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Coherus BioSciences presently has a consensus rating of Buy and an average target price of $36.50.
Coherus BioSciences (NASDAQ:CHRS) opened at 25.45 on Wednesday. The firm’s 50 day moving average price is $29.76 and its 200 day moving average price is $22.83. Coherus BioSciences has a 52-week low of $12.04 and a 52-week high of $31.98. The firm’s market cap is $1.10 billion.
Coherus BioSciences (NASDAQ:CHRS) last announced its earnings results on Tuesday, August 9th. The company reported ($1.72) EPS 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 business had revenue of $14.07 million for the quarter, compared to the consensus estimate of $6.87 million. Equities research analysts anticipate that Coherus BioSciences will post ($6.19) EPS for the current fiscal year.
In other Coherus BioSciences news, insider Peter K. Watler sold 43,495 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $20.02, for a total value of $870,769.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter K. Watler sold 73,741 shares of the 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 in the company, valued at approximately $1,251,000. The disclosure for this sale can be found here. 32.88% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position 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. Bourgeon Capital Management LLC purchased a new position in shares of Coherus BioSciences during the second quarter valued at about $226,000. Jennison Associates LLC purchased a new position in shares of Coherus BioSciences during the second quarter valued at about $228,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Coherus BioSciences during the second quarter valued at about $241,000. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Coherus BioSciences during the second quarter valued at about $253,000. Institutional investors and hedge funds own 58.37% of the company’s stock.
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.
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