Stock Traders Purchase Large Volume of Put Options on Coherus BioSciences (CHRS)
Coherus BioSciences, Inc. (NASDAQ:CHRS) saw some unusual options trading activity on Monday. Investors purchased 1,224 put options on the company. This represents an increase of 1,230% compared to the typical daily volume of 92 put options.
CHRS has been the topic of a number of research reports. BidaskClub downgraded shares of Coherus BioSciences from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $25.00 price target (down from $32.00) on shares of Coherus BioSciences in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Coherus BioSciences from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Tuesday, August 15th. ValuEngine upgraded shares of Coherus BioSciences from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, Maxim Group reiterated a “buy” rating and issued a $20.00 price target (down from $40.00) on shares of Coherus BioSciences in a report on Friday, September 8th. Three investment analysts have rated the stock with a sell rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $31.00.
Coherus BioSciences (NASDAQ:CHRS) opened at $9.35 on Thursday. Coherus BioSciences has a 52 week low of $8.05 and a 52 week high of $29.59. The company has a current ratio of 5.46, a quick ratio of 5.46 and a debt-to-equity ratio of 1.84.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.26). Coherus BioSciences had a negative return on equity of 582.31% and a negative net margin of 73.89%. sell-side analysts forecast that Coherus BioSciences will post -4.39 EPS for the current fiscal year.
Several large investors have recently modified their holdings of CHRS. Teachers Advisors LLC grew its stake in shares of Coherus BioSciences by 48.7% in the 1st quarter. Teachers Advisors LLC now owns 219,671 shares of the biotechnology company’s stock worth $4,646,000 after buying an additional 71,918 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Coherus BioSciences by 15.9% in the 1st 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of Coherus BioSciences by 88.8% in the 1st quarter. Vanguard Group Inc. now owns 2,209,244 shares of the biotechnology company’s stock worth $46,726,000 after buying an additional 1,039,402 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Coherus BioSciences by 14.3% in the 1st quarter. Geode Capital Management LLC now owns 272,749 shares of the biotechnology company’s stock worth $5,768,000 after buying an additional 34,139 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Coherus BioSciences in the 1st quarter worth $2,394,000. 72.18% of the stock is owned by institutional investors and hedge funds.
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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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