BlackRock Inc. grew its holdings in shares of Coherus Biosciences Inc (NASDAQ:CHRS) by 24.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,144,082 shares of the biotechnology company’s stock after acquiring an additional 810,358 shares during the quarter. BlackRock Inc. owned 6.78% of Coherus Biosciences worth $58,018,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada raised its stake in Coherus Biosciences by 26.2% during the first quarter. Royal Bank of Canada now owns 32,526 shares of the biotechnology company’s stock worth $360,000 after acquiring an additional 6,754 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Coherus Biosciences during the second quarter worth about $266,000. Swiss National Bank raised its stake in Coherus Biosciences by 7.6% during the second quarter. Swiss National Bank now owns 70,500 shares of the biotechnology company’s stock worth $987,000 after acquiring an additional 5,000 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Coherus Biosciences during the first quarter worth about $115,000. Finally, Northern Trust Corp raised its stake in Coherus Biosciences by 1.9% during the first quarter. Northern Trust Corp now owns 477,300 shares of the biotechnology company’s stock worth $5,274,000 after acquiring an additional 8,760 shares in the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.
In other news, Director James Healy sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $20.50, for a total value of $512,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Barbara K. Finck sold 1,760 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $19.02, for a total value of $33,475.20. The disclosure for this sale can be found here. Insiders sold 37,811 shares of company stock valued at $751,117 in the last ninety days. 19.57% of the stock is currently owned by insiders.
Coherus Biosciences stock opened at $13.33 on Friday. Coherus Biosciences Inc has a 1 year low of $8.05 and a 1 year high of $20.66. The company has a debt-to-equity ratio of 1.66, a current ratio of 7.79 and a quick ratio of 7.79. The company has a market capitalization of $1.12 billion, a PE ratio of -2.98 and a beta of 3.67.
Coherus Biosciences (NASDAQ:CHRS) last released its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by ($0.04). On average, sell-side analysts predict that Coherus Biosciences Inc will post -3.03 EPS for the current fiscal year.
Several research firms have recently issued reports on CHRS. Zacks Investment Research raised Coherus Biosciences from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Tuesday, June 19th. BidaskClub downgraded Coherus Biosciences from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Finally, ValuEngine downgraded Coherus Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Coherus Biosciences has an average rating of “Hold” and a consensus target price of $23.75.
Coherus Biosciences Profile
Coherus BioSciences, Inc, a biosimilar company, develops and commercializes various therapeutic products worldwide. The company engages in the development of late-stage clinical products, including CHS-1701 pegfilgrastim biosimilar, a granulocyte colony-stimulating factor product candidate; CHS-1420 adalimumab biosimilar, an anti-tumor necrosis factor product candidate; and CHS-0214, an etanercept biosimilar for rheumatoid arthritis and psoriasis.
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