Coherus BioSciences Inc. (CHRS) Trading Up 15.7%
Coherus BioSciences Inc. (NASDAQ:CHRS) was up 15.7% on Monday . The stock traded as high as $20.00 and last traded at $19.92, with a volume of 881,450 shares changing hands. The stock had previously closed at $17.22.
Separately, Zacks Investment Research lowered Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th.
The firm’s market cap is $896.72 million. The company has a 50 day moving average price of $17.22 and a 200-day moving average price of $17.81.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Monday, May 9th. The company reported ($1.67) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.42) by $0.25. Equities research analysts anticipate that Coherus BioSciences Inc. will post ($5.90) earnings per share for the current year.
In other Coherus BioSciences news, insider Peter K. Watler sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $20.00, for a total transaction of $240,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan C. Herman sold 4,250 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $19.20, for a total transaction of $81,600.00. Following the sale, the insider now owns 207,167 shares of the company’s stock, valued at $3,977,606.40. The disclosure for this sale can be found here.
A number of large investors recently modified their holdings of the company. Brown Advisory Inc. increased its stake in shares of Coherus BioSciences by 3.0% in the fourth quarter. Brown Advisory Inc. now owns 200,918 shares of the company’s stock valued at $4,614,000 after buying an additional 5,937 shares during the period. Jennison Associates LLC increased its stake in shares of Coherus BioSciences by 3.1% in the fourth quarter. Jennison Associates LLC now owns 367,021 shares of the company’s stock valued at $8,427,000 after buying an additional 11,023 shares during the period. CAM Group Holding A S increased its stake in shares of Coherus BioSciences by 17.7% in the fourth quarter. CAM Group Holding A S now owns 146,000 shares of the company’s stock valued at $3,352,000 after buying an additional 22,000 shares during the period. Finally, Columbus Circle Investors increased its stake in shares of Coherus BioSciences by 33.0% in the fourth quarter. Columbus Circle Investors now owns 276,752 shares of the company’s stock valued at $6,354,000 after buying an additional 68,666 shares during the period.
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is focused on the global biosimilar market. The Company operates through developing and commercializing biosimilar products segment. Its business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta), in late clinical-stage, and bevacizumab (Avastin), in preclinical-stage; Immunology (Anti-TNF) biosimilar candidates, etanercept (Enbrel) and adalimumab (Humira), which are both in late clinical-stage; Ophthalmology biosimilar candidate ranibizumab (Lucentis) in preclinical stage, and Multiple sclerosis small molecule therapeutic candidate, CHS-131 (formerly INT-131), in Phase II proof-of-concept trial.
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