Fmr LLC reduced its stake in shares of Coherus Biosciences Inc (NASDAQ:CHRS) by 7.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,895,214 shares of the biotechnology company’s stock after selling 591,923 shares during the quarter. Fmr LLC owned 10.17% of Coherus Biosciences worth $96,533,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Coherus Biosciences by 24.3% during the second quarter. BlackRock Inc. now owns 4,144,082 shares of the biotechnology company’s stock worth $58,018,000 after acquiring an additional 810,358 shares in the last quarter. Orbimed Advisors LLC increased its stake in shares of Coherus Biosciences by 0.9% in the second quarter. Orbimed Advisors LLC now owns 1,480,482 shares of the biotechnology company’s stock valued at $20,727,000 after buying an additional 13,682 shares in the last quarter. Northern Trust Corp increased its stake in shares of Coherus Biosciences by 1.9% in the first quarter. Northern Trust Corp now owns 477,300 shares of the biotechnology company’s stock valued at $5,274,000 after buying an additional 8,760 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Coherus Biosciences by 3.1% in the second quarter. Macquarie Group Ltd. now owns 433,000 shares of the biotechnology company’s stock valued at $6,062,000 after buying an additional 13,000 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Coherus Biosciences in the second quarter valued at $4,379,000. Hedge funds and other institutional investors own 91.25% of the company’s stock.
A number of analysts have recently weighed in on the company. BidaskClub lowered Coherus Biosciences from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. HC Wainwright assumed coverage on Coherus Biosciences in a research note on Tuesday, August 28th. They issued a “buy” rating and a $28.00 target price for the company. Maxim Group restated a “buy” rating and issued a $25.00 target price on shares of Coherus Biosciences in a research note on Tuesday, September 25th. Zacks Investment Research lowered Coherus Biosciences from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Finally, ValuEngine upgraded Coherus Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $27.20.
In related news, Director James Healy sold 25,000 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is accessible through this link. Also, insider Barbara K. Finck sold 1,760 shares of the firm’s stock in a transaction dated 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. Over the last 90 days, insiders sold 28,520 shares of company stock valued at $578,676. 26.28% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:CHRS opened at $10.05 on Friday. Coherus Biosciences Inc has a twelve month low of $8.05 and a twelve month high of $20.66. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 1.66.
Coherus Biosciences (NASDAQ:CHRS) last announced its earnings results on Thursday, November 8th. The biotechnology company reported ($0.87) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.79) by ($0.08). As a group, sell-side analysts predict that Coherus Biosciences Inc will post -3.03 EPS for the current year.
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About Coherus Biosciences
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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