Coherus BioSciences’ (CHRS) Outperform Rating Reiterated at Cowen and Company
Coherus BioSciences, Inc. (NASDAQ:CHRS)‘s stock had its “outperform” rating reissued by equities research analysts at Cowen and Company in a research note issued on Friday. They presently have a $45.00 price objective on the biotechnology company’s stock. Cowen and Company’s price target would indicate a potential upside of 258.57% from the company’s current price.
CHRS has been the subject of a number of other research reports. Citigroup Inc. dropped their target price on Coherus BioSciences from $38.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, June 13th. Robert W. Baird dropped their price objective on Coherus BioSciences from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Tuesday, June 13th. Maxim Group restated a “buy” rating and set a $20.00 price objective on shares of Coherus BioSciences in a report on Friday. BMO Capital Markets restated an “outperform” rating and set a $54.00 price objective on shares of Coherus BioSciences in a report on Monday, May 15th. Finally, ValuEngine cut Coherus BioSciences from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.70.
Coherus BioSciences (NASDAQ:CHRS) traded down 7.04% during mid-day trading on Friday, hitting $12.55. The stock had a trading volume of 561,819 shares. The stock’s 50-day moving average price is $13.19 and its 200-day moving average price is $17.98. The stock’s market cap is $644.39 million. Coherus BioSciences has a 12 month low of $10.80 and a 12 month high of $31.98.
Coherus BioSciences (NASDAQ:CHRS) last announced its earnings results on Monday, August 7th. The biotechnology company reported ($1.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.29) by $0.21. The firm had revenue of $1.40 million during the quarter. Coherus BioSciences had a negative return on equity of 307.41% and a negative net margin of 73.89%. On average, analysts predict that Coherus BioSciences will post ($5.13) earnings per share for the current year.
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In related news, insider Alan C. Herman sold 17,535 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $15.02, for a total transaction of $263,375.70. Following the completion of the transaction, the insider now owns 49,651 shares in the company, valued at approximately $745,758.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 26.28% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the business. Jennison Associates LLC lifted its holdings in shares of Coherus BioSciences by 0.4% in the 2nd quarter. Jennison Associates LLC now owns 18,200 shares of the biotechnology company’s stock worth $261,000 after buying an additional 69 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Coherus BioSciences by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 29,116 shares of the biotechnology company’s stock worth $418,000 after buying an additional 253 shares during the period. Nationwide Fund Advisors lifted its holdings in shares of Coherus BioSciences by 1.3% in the 1st quarter. Nationwide Fund Advisors now owns 33,982 shares of the biotechnology company’s stock worth $719,000 after buying an additional 421 shares during the period. Legal & General Group Plc lifted its holdings in shares of Coherus BioSciences by 12.6% in the 2nd quarter. Legal & General Group Plc now owns 9,341 shares of the biotechnology company’s stock worth $134,000 after buying an additional 1,046 shares during the period. Finally, Pictet Asset Management Ltd. lifted its holdings in shares of Coherus BioSciences by 0.3% in the 1st quarter. Pictet Asset Management Ltd. now owns 441,788 shares of the biotechnology company’s stock worth $9,344,000 after buying an additional 1,432 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.
About Coherus BioSciences
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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