Coherus BioSciences, Inc. (CHRS) Given Consensus Recommendation of “Buy” by Analysts
Coherus BioSciences, Inc. (NASDAQ:CHRS) has been assigned a consensus recommendation of “Buy” from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $34.78.
Several brokerages have issued reports on CHRS. 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. Citigroup Inc. dropped their price target on Coherus BioSciences from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, June 13th. Robert W. Baird dropped their price target on Coherus BioSciences from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Tuesday, June 13th. Maxim Group reaffirmed a “buy” rating and set a $20.00 price target (down previously from $40.00) on shares of Coherus BioSciences in a research note on Friday, September 8th. Finally, Zacks Investment Research lowered Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th.
Coherus BioSciences (NASDAQ:CHRS) traded up 0.78% during mid-day trading on Friday, reaching $13.00. 1,487,788 shares of the company’s stock traded hands. The stock’s market capitalization is $667.50 million. The firm’s 50-day moving average price is $13.03 and its 200 day moving average price is $17.60. Coherus BioSciences has a 12 month low of $10.80 and a 12 month high of $31.78.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.29) by $0.21. Coherus BioSciences had a negative return on equity of 307.41% and a negative net margin of 73.89%. The firm had revenue of $1.40 million during the quarter. Equities research analysts predict that Coherus BioSciences will post ($5.13) EPS for the current year.
In other news, insider Alan C. Herman sold 17,535 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 26.28% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its stake 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 valued at $110,396,000 after acquiring an additional 21,143 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 valued at $32,367,000 after acquiring an additional 46,223 shares during the last quarter. State Street Corp lifted its stake 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 valued at $20,329,000 after acquiring an additional 298,986 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Coherus BioSciences by 54.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,391,216 shares of the biotechnology company’s stock valued at $19,964,000 after acquiring an additional 490,899 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Coherus BioSciences by 2.6% in the 1st quarter. Wellington Management Group LLP now owns 1,268,479 shares of the biotechnology company’s stock valued at $26,829,000 after acquiring an additional 32,150 shares during the last quarter. 78.19% of the stock is owned by institutional investors.
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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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