Coherus BioSciences, Inc. (CHRS) Earns Buy Rating from Maxim Group
Coherus BioSciences, Inc. (NASDAQ:CHRS)‘s stock had its “buy” rating reaffirmed by equities researchers at Maxim Group in a report issued on Friday. They currently have a $20.00 price target on the biotechnology company’s stock. Maxim Group’s target price would suggest a potential upside of 48.15% from the stock’s previous close.
The analysts wrote, “The challenge for biosimilar makers of humira is not similar efficacy, it’s winning the IP battle with AbbVie. Coherus, in our view, was ideally positioned to win the biosimilar race as it was founded with a focus on IP.””
CHRS has been the subject of a number of other reports. Zacks Investment Research raised shares of Coherus BioSciences from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, August 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a $54.00 price target on shares of Coherus BioSciences in a research note on Monday, May 15th. ValuEngine raised shares of Coherus BioSciences from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Cowen and Company reaffirmed an “outperform” rating and set a $45.00 price target on shares of Coherus BioSciences in a research note on Tuesday, June 13th. Finally, Citigroup Inc. set a $38.00 price objective on shares of Coherus BioSciences and gave the company a “buy” rating in a research report on Wednesday, May 17th. Two research analysts have rated the stock with a sell rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $32.70.
Shares of Coherus BioSciences (NASDAQ:CHRS) opened at 13.50 on Friday. Coherus BioSciences has a 12-month low of $10.80 and a 12-month high of $31.98. The stock’s 50 day moving average is $13.19 and its 200-day moving average is $17.98. The stock’s market capitalization is $693.17 million.
Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($1.08) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.21. Coherus BioSciences had a negative net margin of 73.89% and a negative return on equity of 307.41%. The firm had revenue of $1.40 million during the quarter. On average, analysts expect that Coherus BioSciences will post ($5.13) earnings per share for the current year.
In other news, insider Alan C. Herman sold 17,535 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $15.02, for a total value of $263,375.70. Following the completion of the sale, the insider now owns 49,651 shares of the company’s stock, valued at approximately $745,758.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 26.28% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its position in shares of Coherus BioSciences by 0.3% in the 2nd quarter. FMR LLC now owns 7,693,124 shares of the biotechnology company’s stock worth $110,396,000 after purchasing an additional 21,143 shares during the period. Kohlberg Kravis Roberts & Co. L.P. purchased a new stake in shares of Coherus BioSciences in the 2nd quarter worth approximately $51,600,000. Vanguard Group Inc. lifted its position in shares of Coherus BioSciences by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,255,467 shares of the biotechnology company’s stock worth $32,367,000 after purchasing an additional 46,223 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Coherus BioSciences by 28.2% in the 1st quarter. JPMorgan Chase & Co. now owns 2,122,551 shares of the biotechnology company’s stock worth $45,062,000 after purchasing an additional 466,388 shares during the period. Finally, State Street Corp lifted its position in shares of Coherus BioSciences by 26.8% in the 2nd quarter. State Street Corp now owns 1,416,572 shares of the biotechnology company’s stock worth $20,329,000 after purchasing an additional 298,986 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Coherus BioSciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherus BioSciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.