Coherus BioSciences Inc. (CHRS) Trading Down 4.2%
Coherus BioSciences Inc. (NASDAQ:CHRS) shares traded down 4.2% on Thursday . The stock traded as low as $24.63 and last traded at $24.69, with a volume of 159,321 shares. The stock had previously closed at $25.78.
Several research analysts recently weighed in on the stock. Citigroup Inc. assumed coverage on shares of Coherus BioSciences in a report on Wednesday. They issued a “buy” rating and a $36.00 target price for the company. Zacks Investment Research raised shares of Coherus BioSciences from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.60.
The company’s 50-day moving average price is $19.25 and its 200 day moving average price is $18.14. The firm’s market capitalization is $961.69 million.
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. On average, analysts expect that Coherus BioSciences Inc. will post ($5.90) earnings per share for the current year.
In related news, insider Peter K. Watler sold 43,495 shares of the firm’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $20.02, for a total transaction of $870,769.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alan C. Herman sold 4,250 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $16.89, for a total transaction of $71,782.50. Following the transaction, the insider now directly owns 198,115 shares of the company’s stock, valued at approximately $3,346,162.35. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Coherus BioSciences stock. Jennison Associates LLC raised 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 SEC. The fund owned 367,021 shares of the company’s stock after buying an additional 11,023 shares during the period. Jennison Associates LLC owned 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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