-$1.05 Earnings Per Share Expected for Coherus BioSciences, Inc. (CHRS) This Quarter
Analysts expect Coherus BioSciences, Inc. (NASDAQ:CHRS) to report ($1.05) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Coherus BioSciences’ earnings. Coherus BioSciences posted earnings of $1.67 per share during the same quarter last year, which suggests a negative year over year growth rate of 162.9%. The firm is expected to report its next quarterly earnings results after the market closes on Monday, November 6th.
On average, analysts expect that Coherus BioSciences will report full-year earnings of ($4.34) per share for the current year, with EPS estimates ranging from ($4.66) to ($4.02). For the next financial year, analysts anticipate that the firm will report earnings of ($3.13) per share, with EPS estimates ranging from ($3.30) to ($2.95). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Coherus BioSciences.
Coherus BioSciences (NASDAQ:CHRS) last announced its earnings results on Monday, August 7th. The biotechnology company reported ($1.08) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter.
Several brokerages recently weighed in on CHRS. ValuEngine downgraded shares of Coherus BioSciences from a “sell” rating to a “strong sell” rating in a research report on Thursday. J P Morgan Chase & Co reissued an “overweight” rating and set a $25.00 price target (down previously from $32.00) on shares of Coherus BioSciences in a research report on Tuesday, August 8th. Credit Suisse Group reissued an “outperform” rating and set a $17.00 price target (down previously from $24.00) on shares of Coherus BioSciences in a research report on Wednesday, September 27th. Maxim Group reissued a “buy” rating and set a $20.00 price target (down previously from $40.00) on shares of Coherus BioSciences in a research report on Friday, September 8th. Finally, BidaskClub downgraded shares of Coherus BioSciences from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Three equities research analysts have rated the stock with a sell rating and nine have given a buy rating to the company. Coherus BioSciences has an average rating of “Buy” and an average target price of $32.00.
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Coherus BioSciences (CHRS) traded up 2.30% during trading on Friday, reaching $11.10. The company had a trading volume of 586,997 shares. The firm’s 50 day moving average price is $13.17 and its 200 day moving average price is $15.68. The firm’s market capitalization is $569.94 million. Coherus BioSciences has a 12-month low of $10.65 and a 12-month high of $29.60.
In other Coherus BioSciences news, insider Alan C. Herman sold 17,535 shares of Coherus BioSciences 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 26.28% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of Coherus BioSciences by 171.0% during the 1st quarter. Bank of America Corp DE now owns 18,308 shares of the biotechnology company’s stock worth $387,000 after acquiring an additional 11,553 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of Coherus BioSciences during the 1st quarter worth $246,000. Swiss National Bank boosted its stake in shares of Coherus BioSciences by 39.9% during the 1st quarter. Swiss National Bank now owns 52,200 shares of the biotechnology company’s stock worth $1,104,000 after acquiring an additional 14,900 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Coherus BioSciences during the 2nd quarter worth $602,000. Finally, Tudor Investment Corp ET AL boosted its stake in shares of Coherus BioSciences by 61.3% during the 1st quarter. Tudor Investment Corp ET AL now owns 23,223 shares of the biotechnology company’s stock worth $491,000 after acquiring an additional 8,827 shares during the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.
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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