Coherus BioSciences Inc. (CHRS) Given Consensus Rating of “Buy” by Analysts
Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) have earned an average rating of “Buy” from the six brokerages that are presently covering the stock. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $39.60.
Several equities research analysts have weighed in on the company. Maxim Group set a $43.00 target price on Coherus BioSciences and gave the stock a “buy” rating in a research report on Saturday. Credit Suisse Group AG set a $38.00 target price on Coherus BioSciences and gave the stock a “buy” rating in a research report on Saturday, September 17th. Zacks Investment Research raised Coherus BioSciences from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Citigroup Inc. assumed coverage on Coherus BioSciences in a research report on Wednesday, July 27th. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $46.00 target price on shares of Coherus BioSciences in a research report on Thursday, August 11th.
In other news, insider Peter K. Watler sold 73,741 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,844,999.82. Following the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at $1,251,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan C. Herman sold 11,333 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $25.69, for a total value of $291,144.77. Following the transaction, the insider now directly owns 161,687 shares in the company, valued at $4,153,739.03. The disclosure for this sale can be found here. Insiders own 32.88% of the company’s stock.
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Several hedge funds and other institutional investors have recently modified their holdings of CHRS. BlackRock Inc. boosted 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 in the last quarter. Bourgeon Capital Management LLC purchased a new position in shares of Coherus BioSciences during the second quarter valued at $226,000. Jennison Associates LLC purchased a new position in shares of Coherus BioSciences during the second quarter valued at $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 $241,000. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Coherus BioSciences during the second quarter valued at $253,000. 58.37% of the stock is currently owned by institutional investors.
Coherus BioSciences (NASDAQ:CHRS) traded down 3.23% during midday trading on Wednesday, hitting $27.60. 108,745 shares of the company traded hands. Coherus BioSciences has a 12-month low of $12.04 and a 12-month high of $31.98. The stock has a 50 day moving average of $29.21 and a 200 day moving average of $23.11. The stock’s market cap is $1.20 billion.
Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($1.72) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $14.07 million for the quarter, compared to the consensus estimate of $6.87 million. Equities research analysts predict that Coherus BioSciences will post ($6.22) EPS for the current fiscal year.
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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