Coherus BioSciences Inc. (CHRS) Receives New Coverage from Analysts at Robert W. Baird
Equities researchers at Robert W. Baird began coverage on shares of Coherus BioSciences Inc. (NASDAQ:CHRS) in a research note issued to investors on Tuesday, The Fly reports. The firm set an “outperform” rating on the stock.
A number of other research firms have also recently weighed in on CHRS. Maxim Group set a $43.00 price target on Coherus BioSciences and gave the company a “buy” rating in a report on Saturday, October 8th. Credit Suisse Group AG set a $38.00 price target on Coherus BioSciences and gave the company a “buy” rating in a report on Saturday, September 17th. Zacks Investment Research raised Coherus BioSciences from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Citigroup Inc. began coverage on Coherus BioSciences in a report on Wednesday, July 27th. They set a “buy” rating and a $36.00 price target on the stock. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $46.00 price target on shares of Coherus BioSciences in a report on Tuesday, October 4th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $36.50.
Coherus BioSciences (NASDAQ:CHRS) traded up 1.18% during midday trading on Tuesday, hitting $29.22. The company had a trading volume of 323,090 shares. The company’s 50 day moving average is $29.09 and its 200 day moving average is $23.36. The stock’s market cap is $1.27 billion. Coherus BioSciences has a 12-month low of $12.04 and a 12-month high of $31.98.
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Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Tuesday, August 9th. The company reported ($1.72) earnings per share (EPS) 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 earned $14.07 million during the quarter, compared to the consensus estimate of $6.87 million. On average, equities analysts anticipate that Coherus BioSciences will post ($6.22) EPS for the current fiscal year.
In related news, insider Peter K. Watler sold 3,991 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $26.13, for a total transaction of $104,284.83. Following the transaction, the insider now owns 3,991 shares in the company, valued at $104,284.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alan C. Herman sold 11,333 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $25.69, for a total transaction of $291,144.77. Following the transaction, the insider now owns 161,687 shares in the company, valued at approximately $4,153,739.03. The disclosure for this sale can be found here. Corporate insiders own 32.88% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oxford Asset Management bought a new position in Coherus BioSciences during the second quarter worth approximately $729,000. Columbus Circle Investors raised its position in Coherus BioSciences by 70.3% in the second quarter. Columbus Circle Investors now owns 373,249 shares of the company’s stock worth $6,304,000 after buying an additional 154,086 shares in the last quarter. Jennison Associates LLC bought a new position in Coherus BioSciences during the second quarter worth approximately $228,000. JPMorgan Chase & Co. raised its position in 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 in the last quarter. Finally, Bridger Management LLC bought a new position in Coherus BioSciences during the first quarter worth approximately $7,242,000. Institutional investors and hedge funds own 58.39% 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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