Coherus BioSciences, Inc. (NASDAQ:CHRS) Receives Average Recommendation of “Buy” from Brokerages
Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) have been given a consensus rating of “Buy” by the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $38.50.
A number of equities analysts recently weighed in on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $24.00 price target (down from $38.00) on shares of Coherus BioSciences in a report on Wednesday, June 14th. ValuEngine downgraded shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. J P Morgan Chase & Co reissued a “buy” rating on shares of Coherus BioSciences in a report on Monday, June 12th. Citigroup Inc. cut their price target on shares of Coherus BioSciences from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, June 13th. Finally, Cowen and Company reissued an “outperform” rating and issued a $45.00 price target on shares of Coherus BioSciences in a report on Tuesday, June 13th.
Coherus BioSciences (CHRS) traded up 2.09% during mid-day trading on Tuesday, hitting $14.65. 277,653 shares of the stock were exchanged. The company’s market capitalization is $751.37 million. The stock’s 50-day moving average is $19.13 and its 200 day moving average is $22.57. Coherus BioSciences has a 52 week low of $14.00 and a 52 week high of $31.98.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Monday, May 8th. The biotechnology company reported ($1.54) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($1.54). The company had revenue of $0.16 million for the quarter. Coherus BioSciences had a negative net margin of 76.85% and a negative return on equity of 827.65%. On average, analysts anticipate that Coherus BioSciences will post ($5.13) EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in CHRS. Legal & General Group Plc increased its stake in shares of Coherus BioSciences by 15.9% in the first quarter. Legal & General Group Plc now owns 8,295 shares of the biotechnology company’s stock worth $173,000 after buying an additional 1,137 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Coherus BioSciences during the first quarter worth about $246,000. Trexquant Investment LP purchased a new stake in shares of Coherus BioSciences during the first quarter worth about $319,000. Highbridge Capital Management LLC purchased a new stake in shares of Coherus BioSciences during the first quarter worth about $349,000. Finally, Bank of America Corp DE increased its stake in shares of Coherus BioSciences by 171.0% in the first quarter. Bank of America Corp DE now owns 18,308 shares of the biotechnology company’s stock worth $387,000 after buying an additional 11,553 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.
Coherus BioSciences Company Profile
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is engaged in the business of developing and commercializing biosimilar products. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta) and bevacizumab (Avastin); Immunology (Anti-TNF) biosimilar candidates etanercept (Enbrel) and adalimumab (Humira); Ophthalmology biosimilar candidate ranibizumab (Lucentis), and Multiple sclerosis small molecule therapeutic candidate, CHS-131.
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