Coherus Biosciences (NASDAQ:CHRS) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.08), Morningstar.com reports.
CHRS stock traded down $1.88 during trading hours on Friday, hitting $10.06. 2,369,603 shares of the stock traded hands, compared to its average volume of 892,346. Coherus Biosciences has a one year low of $8.05 and a one year high of $20.66. The stock has a market capitalization of $846.40 million, a P/E ratio of -2.24 and a beta of 3.72. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 1.66.
In related news, insider Barbara K. Finck sold 1,760 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $18.58, for a total transaction of $32,700.80. Following the completion of the transaction, the insider now owns 38,803 shares of the company’s stock, valued at $720,959.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Healy sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $20.50, for a total value of $512,500.00. The disclosure for this sale can be found here. Insiders have sold 28,520 shares of company stock valued at $578,676 in the last ninety days. Company insiders own 26.28% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. BlueMountain Capital Management LLC acquired a new position in shares of Coherus Biosciences in the 2nd quarter valued at $214,000. Royal Bank of Canada boosted its position in shares of Coherus Biosciences by 26.2% in the 1st quarter. Royal Bank of Canada now owns 32,526 shares of the biotechnology company’s stock valued at $360,000 after purchasing an additional 6,754 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Coherus Biosciences in the 2nd quarter valued at $266,000. Tower Research Capital LLC TRC acquired a new position in shares of Coherus Biosciences in the 2nd quarter valued at $118,000. Finally, Swiss National Bank boosted its position in shares of Coherus Biosciences by 7.6% in the 2nd quarter. Swiss National Bank now owns 70,500 shares of the biotechnology company’s stock valued at $987,000 after purchasing an additional 5,000 shares during the period. 91.25% of the stock is owned by institutional investors and hedge funds.
CHRS has been the subject of several research reports. ValuEngine raised Coherus Biosciences from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Zacks Investment Research cut Coherus Biosciences from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. BidaskClub raised Coherus Biosciences from a “hold” rating to a “buy” rating in a research note on Friday, August 24th. HC Wainwright initiated coverage on Coherus Biosciences in a research note on Tuesday, August 28th. They set a “buy” rating and a $28.00 target price for the company. Finally, Maxim Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Coherus Biosciences in a research note on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Coherus Biosciences has an average rating of “Buy” and a consensus price target of $27.20.
Coherus Biosciences Company 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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