Coherus BioSciences Inc. (CHRS) Stock Price Up 3.8%
Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) rose 3.8% during trading on Wednesday . The stock traded as high as $26.22 and last traded at $25.64, with a volume of 118,596 shares traded. The stock had previously closed at $24.70.
CHRS has been the subject of several research reports. Zacks Investment Research cut Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Citigroup Inc. started coverage on Coherus BioSciences in a report on Wednesday. They issued a “buy” rating and a $36.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $32.60.
The company’s market capitalization is $974.61 million. The stock’s 50 day moving average is $19.25 and its 200 day moving average is $18.14.
Coherus BioSciences (NASDAQ:CHRS) last announced its earnings results on Monday, May 9th. The company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($1.42) by $0.25. On average, equities analysts anticipate that Coherus BioSciences Inc. will post ($5.90) earnings per share for the current year.
In other news, insider Peter K. Watler sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $20.00, for a total value of $240,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alan C. Herman sold 4,250 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $19.20, for a total value of $81,600.00. Following the completion of the sale, the insider now directly 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 raised its stake in shares of Coherus BioSciences Inc. (NASDAQ:CHRS) by 3.1% during the fourth quarter, according to its most recent disclosure with the 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 0.94% of Coherus BioSciences worth $8,427,000 as of its most recent filing with the SEC.
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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