Coherus BioSciences Inc. (CHRS) Shares Up 4.1%
Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) were up 4.1% on Tuesday . The stock traded as high as $31.78 and last traded at $31.27, with a volume of 303,909 shares trading hands. The stock had previously closed at $30.03.
Several analysts have weighed in on CHRS shares. Maxim Group started coverage on shares of Coherus BioSciences in a research note on Wednesday, September 7th. They set a “buy” rating and a $43.00 target price for the company. Zacks Investment Research lowered shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Monday, August 15th. Barclays PLC restated a “buy” rating and set a $46.00 price target on shares of Coherus BioSciences in a research report on Thursday, August 11th. Citigroup Inc. started coverage on shares of Coherus BioSciences in a research report on Wednesday, July 27th. They set a “buy” rating and a $36.00 price target for the company. Finally, 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 report on Saturday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Coherus BioSciences presently has a consensus rating of “Buy” and an average price target of $36.50.
The company has a 50-day moving average of $29.63 and a 200-day moving average of $22.09. The stock’s market capitalization is $1.37 billion.
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Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings data 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 business earned $14.07 million during the quarter, compared to the consensus estimate of $6.87 million. Equities research analysts expect that Coherus BioSciences Inc. will post ($6.19) EPS for the current fiscal year.
In related news, insider Fmr Llc sold 100,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $29.86, for a total value of $2,986,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter K. Watler sold 3,991 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $26.13, for a total value of $104,284.83. Following the completion of the transaction, the insider now directly owns 3,991 shares of the company’s stock, valued at $104,284.83. The disclosure for this sale can be found here. 32.88% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors Inc. boosted its position in shares of Coherus BioSciences by 6.0% in the first quarter. Teachers Advisors Inc. now owns 134,302 shares of the company’s stock worth $2,851,000 after buying an additional 7,634 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Coherus BioSciences by 244.7% in the first quarter. BlackRock Group LTD now owns 10,280 shares of the company’s stock worth $218,000 after buying an additional 7,298 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Coherus BioSciences by 3.0% in the first quarter. BlackRock Fund Advisors now owns 1,120,135 shares of the company’s stock worth $23,780,000 after buying an additional 33,124 shares during the last quarter. 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 worth $45,062,000 after buying an additional 466,388 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Coherus BioSciences by 1.8% in the first quarter. State Street Corp now owns 373,220 shares of the company’s stock worth $7,925,000 after buying an additional 6,554 shares during the last quarter. 58.37% of the stock is owned by hedge funds and other institutional investors.
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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