Coherus BioSciences Inc. (CHRS) Research Coverage Started at Robert W. Baird
Analysts at Robert W. Baird assumed coverage on shares of Coherus BioSciences Inc. (NASDAQ:CHRS) in a report released on Tuesday, The Fly reports. The firm set an “outperform” rating on the stock.
Several other analysts also recently commented on CHRS. Maxim Group set a $43.00 price objective on shares of Coherus BioSciences and gave the company a “buy” rating in a research report on Saturday, October 8th. Credit Suisse Group AG set a $38.00 price target on shares of Coherus BioSciences and gave the company a “buy” rating in a report on Saturday, September 17th. Zacks Investment Research upgraded shares of Coherus BioSciences from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Citigroup Inc. started coverage on shares of Coherus BioSciences in a report on Wednesday, July 27th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Barclays PLC reiterated an “overweight” rating and issued 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 issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.50.
Shares of Coherus BioSciences (NASDAQ:CHRS) traded up 1.18% during trading on Tuesday, hitting $29.22. 313,810 shares of the stock traded hands. The stock’s market cap is $1.27 billion. The firm’s 50-day moving average price is $29.09 and its 200-day moving average price is $23.36. 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 announced its quarterly earnings data on Tuesday, August 9th. The company reported ($1.72) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.40. The firm had revenue of $14.07 million for the quarter, compared to the consensus estimate of $6.87 million. Coherus BioSciences had a negative net margin of 591.61% and a negative return on equity of 1,583.92%. Analysts anticipate that Coherus BioSciences will post ($6.22) EPS for the current year.
In other Coherus BioSciences news, CFO Jean-Frederic Viret sold 3,900 shares of Coherus BioSciences stock in a transaction on Monday, September 26th. The shares were sold at an average price of $29.88, for a total value of $116,532.00. Following the completion of the transaction, the chief financial officer now directly owns 6,225 shares of the company’s stock, valued at approximately $186,003. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan C. Herman sold 11,333 shares of Coherus BioSciences stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $25.69, for a total transaction of $291,144.77. Following the completion of the transaction, the insider now directly owns 161,687 shares of the company’s stock, valued at $4,153,739.03. The disclosure for this sale can be found here. 32.88% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Oxford Asset Management acquired a new position in shares of Coherus BioSciences during the second quarter worth approximately $729,000. Columbus Circle Investors boosted its position in shares of 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 during the last quarter. Jennison Associates LLC acquired a new position in shares of Coherus BioSciences during the second quarter worth approximately $228,000. 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 worth $45,062,000 after buying an additional 466,388 shares during the last quarter. Finally, Bridger Management LLC acquired a new position in shares of Coherus BioSciences during the first quarter worth approximately $7,242,000. 58.39% of the stock is owned by institutional investors and hedge funds.
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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