Coherus BioSciences Inc. (NASDAQ:CHRS) insider Dennis M. Lanfear sold 2,900 shares of the company’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $31.79, for a total value of $92,191.00. Following the transaction, the insider now owns 71,635 shares in the company, valued at $2,277,276.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) opened at 31.57 on Wednesday. The stock’s 50 day moving average price is $29.80 and its 200-day moving average price is $22.18. Coherus BioSciences Inc. has a 52-week low of $12.04 and a 52-week high of $31.98. The stock’s market cap is $1.37 billion.

Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($1.72) earnings per share for the quarter, missing the Zacks’ 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 analysts’ expectations of $6.87 million. On average, analysts predict that Coherus BioSciences Inc. will post ($6.19) earnings per share for the current fiscal year.

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A number of research firms have commented on CHRS. Credit Suisse Group AG set a $38.00 price target on Coherus BioSciences and gave the stock a “buy” rating in a research note on Saturday. Zacks Investment Research upgraded Coherus BioSciences from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Citigroup Inc. began coverage on Coherus BioSciences in a research note on Wednesday, July 27th. They set a “buy” rating and a $36.00 price target on the stock. Barclays PLC restated a “buy” rating and set a $46.00 price target on shares of Coherus BioSciences in a research note on Thursday, August 11th. Finally, Maxim Group began coverage on Coherus BioSciences in a research note on Wednesday, September 7th. They set a “buy” rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $36.50.

A number of hedge funds have recently added to or reduced their stakes in the company. Kohlberg Kravis Roberts & Co. L.P. purchased a new stake in Coherus BioSciences during the second quarter valued at approximately $51,600,000. Citadel Advisors LLC purchased a new stake in Coherus BioSciences during the second quarter valued at approximately $11,413,000. FMR LLC boosted its stake in 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. JPMorgan Chase & Co. boosted its stake in 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. Finally, AXA purchased a new stake in Coherus BioSciences during the first quarter valued at approximately $9,528,000. 58.37% of the stock is owned by hedge funds and other 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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