Coherus Biosciences (NASDAQ:CHRS) had its price target upped by analysts at Citigroup from $27.00 to $31.00 in a report released on Thursday, Stock Target Advisor reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Citigroup‘s target price suggests a potential upside of 63.24% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Coherus Biosciences in a research report on Friday, August 2nd. BidaskClub downgraded shares of Coherus Biosciences from a “hold” rating to a “sell” rating in a research report on Wednesday, October 16th. Credit Suisse Group reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Coherus Biosciences in a research report on Friday. Mizuho set a $43.00 price objective on shares of Coherus Biosciences and gave the stock a “buy” rating in a research report on Sunday, September 29th. Finally, ValuEngine downgraded shares of Coherus Biosciences from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $30.38.
NASDAQ CHRS traded down $0.01 during trading on Thursday, reaching $18.99. 31,195 shares of the company’s stock traded hands, compared to its average volume of 1,110,910. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -5.89 and a beta of 2.90. The company’s 50 day simple moving average is $19.23 and its two-hundred day simple moving average is $19.16. Coherus Biosciences has a 12-month low of $8.32 and a 12-month high of $23.91.
Coherus Biosciences (NASDAQ:CHRS) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.27. The business had revenue of $111.68 million for the quarter, compared to analysts’ expectations of $93.58 million. As a group, analysts predict that Coherus Biosciences will post 0.89 earnings per share for the current year.
In other Coherus Biosciences news, COO Vincent R. Anicetti sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $20.03, for a total transaction of $50,075.00. Following the sale, the chief operating officer now owns 21,810 shares of the company’s stock, valued at approximately $436,854.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jean-Frederic Viret sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $19.04, for a total transaction of $57,120.00. Following the sale, the chief financial officer now directly owns 8,513 shares in the company, valued at approximately $162,087.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,264 shares of company stock worth $504,967. Insiders own 18.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. grew its position in Coherus Biosciences by 45.5% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 137,591 shares of the biotechnology company’s stock worth $3,041,000 after purchasing an additional 43,005 shares during the last quarter. Cadence Capital Management LLC purchased a new stake in Coherus Biosciences during the 3rd quarter worth approximately $2,634,000. Calamos Advisors LLC purchased a new stake in Coherus Biosciences during the 2nd quarter worth approximately $972,000. DekaBank Deutsche Girozentrale grew its position in Coherus Biosciences by 300.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 85,400 shares of the biotechnology company’s stock worth $1,835,000 after purchasing an additional 64,100 shares during the last quarter. Finally, Atika Capital Management LLC grew its position in Coherus Biosciences by 11.7% during the 2nd quarter. Atika Capital Management LLC now owns 210,000 shares of the biotechnology company’s stock worth $4,641,000 after purchasing an additional 22,000 shares during the last quarter. 96.37% of the stock is currently owned by institutional investors.
Coherus Biosciences Company Profile
Coherus BioSciences, Inc, a commercial-stage biotherapeutics company, focuses on the biosimilar market worldwide. It markets UDENYCA, a long-acting granulocyte-colony stimulating factor, which stimulates production of granulocytes in order to promote the body's ability to fight infections. The company sells UDENYCA in the United States.
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