Coherus BioSciences Inc. (CHRS) Trading Down 6.6%
Coherus BioSciences Inc. (NASDAQ:CHRS) was down 6.6% during trading on Thursday . The stock traded as low as $23.82 and last traded at $24.37, with a volume of 208,003 shares. The stock had previously closed at $26.10.
Separately, Zacks Investment Research cut shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th.
The firm’s market cap is $948.00 million. The company has a 50 day moving average of $18.46 and a 200 day moving average of $17.97.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Monday, May 9th. The company reported ($1.67) EPS for the quarter, missing analysts’ consensus estimates of ($1.42) by $0.25. On average, equities analysts anticipate that Coherus BioSciences Inc. will post ($5.90) EPS for the current year.
In other Coherus BioSciences news, insider Peter K. Watler sold 12,000 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $20.00, for a total transaction of $240,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alan C. Herman sold 4,250 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $19.20, for a total value of $81,600.00. Following the transaction, 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 hedge fund recently raised its stake in Coherus BioSciences stock. Jennison Associates LLC increased its stake in Coherus BioSciences Inc. (NASDAQ:CHRS) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 367,021 shares of the company’s stock after buying an additional 11,023 shares during the period. Jennison Associates LLC owned approximately 0.94% of Coherus BioSciences worth $8,427,000 at the end of the most recent reporting 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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