Coherus Biosciences (NASDAQ:CHRS) Rating Reiterated by Credit Suisse Group

Coherus Biosciences (NASDAQ:CHRS)‘s stock had its “buy” rating reaffirmed by equities research analysts at Credit Suisse Group in a research report issued to clients and investors on Friday, AnalystRatings.com reports. They currently have a $36.00 price objective on the biotechnology company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 88.88% from the company’s previous close.

A number of other analysts have also recently commented on the stock. BidaskClub cut shares of Coherus Biosciences from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. Zacks Investment Research upgraded shares of Coherus Biosciences from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Thursday. Mizuho set a $43.00 target price on shares of Coherus Biosciences and gave the stock a “buy” rating in a research note on Sunday, September 29th. Barclays set a $31.00 target price on shares of Coherus Biosciences and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, ValuEngine cut shares of Coherus Biosciences from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $30.38.

CHRS stock traded up $0.06 during trading on Friday, reaching $19.06. The company had a trading volume of 1,353,200 shares, compared to its average volume of 992,812. The firm has a 50-day simple moving average of $19.20 and a 200-day simple moving average of $19.18. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -5.92 and a beta of 2.90. Coherus Biosciences has a twelve month low of $8.32 and a twelve month high of $23.91.

Coherus Biosciences (NASDAQ:CHRS) last released its earnings results on Wednesday, November 6th. The biotechnology company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.27. The company had revenue of $111.68 million during the quarter, compared to analyst estimates of $93.58 million. As a group, analysts expect 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 firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $18.40, for a total transaction of $46,000.00. Following the completion of the transaction, the chief operating officer now directly owns 21,810 shares of the company’s stock, valued at approximately $401,304. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jean-Frederic Viret sold 1,388 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $19.02, for a total transaction of $26,399.76. Following the transaction, the chief financial officer now directly owns 6,385 shares of the company’s stock, valued at $121,442.70. The disclosure for this sale can be found here. Insiders have sold a total of 25,264 shares of company stock valued at $504,967 over the last three months. 18.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Coherus Biosciences by 10.6% during the 2nd quarter. BlackRock Inc. now owns 5,037,431 shares of the biotechnology company’s stock valued at $111,327,000 after purchasing an additional 483,541 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Coherus Biosciences by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,958,583 shares of the biotechnology company’s stock valued at $65,384,000 after purchasing an additional 87,091 shares in the last quarter. Rock Springs Capital Management LP increased its holdings in shares of Coherus Biosciences by 180.6% during the 2nd quarter. Rock Springs Capital Management LP now owns 1,880,000 shares of the biotechnology company’s stock valued at $41,548,000 after purchasing an additional 1,210,000 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Coherus Biosciences during the 2nd quarter valued at approximately $25,695,000. Finally, C WorldWide Group Holding A S increased its holdings in shares of Coherus Biosciences by 19.2% during the 3rd quarter. C WorldWide Group Holding A S now owns 808,464 shares of the biotechnology company’s stock valued at $16,379,000 after purchasing an additional 130,000 shares in the last quarter. 96.37% of the stock is 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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Analyst Recommendations for Coherus Biosciences (NASDAQ:CHRS)

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