Coherus BioSciences Inc. (NASDAQ:CHRS) insider Dennis M. Lanfear sold 4,060 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $31.75, for a total transaction of $128,905.00. Following the completion of the transaction, the insider now directly owns 71,635 shares in the company, valued at approximately $2,274,411.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Coherus BioSciences Inc. (NASDAQ:CHRS) opened at 30.88 on Friday. Coherus BioSciences Inc. has a one year low of $12.04 and a one year high of $31.98. The firm’s 50-day moving average is $29.98 and its 200 day moving average is $22.31. The company’s market capitalization is $1.34 billion.
Coherus BioSciences (NASDAQ:CHRS) last announced 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. Coherus BioSciences had a negative return on equity of 1,583.92% and a negative net margin of 591.61%. The business had revenue of $14.07 million for the quarter, compared to analyst estimates of $6.87 million. On average, equities analysts expect that Coherus BioSciences Inc. will post ($6.19) EPS for the current fiscal year.
Several research analysts recently commented on the stock. Credit Suisse Group AG set a $38.00 price target on shares of Coherus BioSciences and gave the stock a “buy” rating in a research note on Saturday, September 17th. Zacks Investment Research raised shares of Coherus BioSciences from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Maxim Group assumed coverage on shares of Coherus BioSciences in a research note on Wednesday, September 7th. They issued a “buy” rating and a $43.00 price target on the stock. Citigroup Inc. assumed coverage on shares of Coherus BioSciences in a research note on Wednesday, July 27th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $46.00 price target on shares of Coherus BioSciences in a research note on Thursday, August 11th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $36.50.
A number of large investors have recently made changes to their positions in CHRS. FMR LLC boosted its position in shares of Coherus BioSciences by 9.0% in the second quarter. FMR LLC now owns 6,396,228 shares of the company’s stock valued at $108,032,000 after buying an additional 530,715 shares during the last quarter. Kohlberg Kravis Roberts & Co. L.P. purchased a new position in shares of Coherus BioSciences during the second quarter valued at $51,600,000. JPMorgan Chase & Co. boosted its position in shares of Coherus BioSciences by 28.2% in the first quarter. JPMorgan Chase & Co. now owns 2,122,551 shares of the company’s stock valued at $45,062,000 after buying an additional 466,388 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Coherus BioSciences by 13.3% in the second quarter. BlackRock Fund Advisors now owns 1,268,735 shares of the company’s stock valued at $21,429,000 after buying an additional 148,600 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Coherus BioSciences by 53.7% in the second quarter. Vanguard Group Inc. now owns 1,008,298 shares of the company’s stock valued at $17,030,000 after buying an additional 352,103 shares during the last quarter. 58.37% of the stock is currently owned by institutional investors.
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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