Coherus BioSciences Inc. (CHRS) Shares Up 3.6%
Coherus BioSciences Inc. (NASDAQ:CHRS) shot up 3.6% during mid-day trading on Thursday . The stock traded as high as $30.37 and last traded at $30.09, with a volume of 191,118 shares trading hands. The stock had previously closed at $29.04.
Several brokerages have issued reports on CHRS. Zacks Investment Research lowered shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Barclays PLC restated a “buy” rating and set a $46.00 price objective on shares of Coherus BioSciences in a research note on Thursday. Finally, Citigroup Inc. began coverage on shares of Coherus BioSciences in a research note on Wednesday, July 27th. They set a “buy” rating and a $36.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $32.60.
The stock’s market cap is $1.15 billion. The firm has a 50-day moving average of $23.10 and a 200-day moving average of $19.14.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Tuesday, August 9th. The company reported ($1.72) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.40. The company had revenue of $14.07 million for the quarter, compared to analyst estimates of $6.87 million. Equities research analysts predict that Coherus BioSciences Inc. will post ($6.19) earnings per share for the current fiscal year.
In related news, insider Alan C. Herman sold 4,250 shares of the stock in a transaction on Friday, July 1st. The shares were 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 $3,346,162.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 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 13F filing with the Securities and Exchange Commission (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 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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