Coherus BioSciences Inc. (CHRS) Shares Up 3.6%
Coherus BioSciences Inc. (NASDAQ:CHRS) shot up 3.6% on Thursday . The stock traded as high as $30.37 and last traded at $30.09, with a volume of 191,118 shares traded. The stock had previously closed at $29.04.
Several brokerages have weighed in on CHRS. Zacks Investment Research downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Barclays PLC reaffirmed a “buy” rating and set a $46.00 price target on shares of Coherus BioSciences in a research report on Thursday. Finally, Citigroup Inc. began coverage on Coherus BioSciences in a research report on Wednesday, July 27th. They set a “buy” rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Coherus BioSciences currently has an average rating of “Buy” and an average price target of $32.60.
The firm’s market cap is $1.18 billion. The company’s 50 day moving average price is $22.32 and its 200-day moving average price is $18.95.
Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($1.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by $0.40. The business had revenue of $14.07 million for the quarter, compared to the consensus estimate of $6.87 million. On average, equities analysts predict that Coherus BioSciences Inc. will post ($5.76) earnings per share for the current fiscal year.
In other Coherus BioSciences news, insider Alan C. Herman sold 11,333 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $25.54, for a total value of $289,444.82. Following the sale, the insider now owns 186,782 shares of the company’s stock, valued at $4,770,412.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alan C. Herman sold 4,250 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $18.67, for a total transaction of $79,347.50. Following the completion of the sale, the insider now directly owns 202,365 shares in the company, valued at approximately $3,778,154.55. 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 shares of Coherus BioSciences Inc. (NASDAQ:CHRS) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 approximately 0.94% of Coherus BioSciences worth $8,427,000 as of its most recent SEC filing.
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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