Coherus BioSciences Inc. (CHRS) Stock Price Down 3.4%
Coherus BioSciences Inc. (NASDAQ:CHRS) fell 3.4% during mid-day trading on Tuesday . The company traded as low as $29.00 and last traded at $29.09, with a volume of 121,618 shares traded. The stock had previously closed at $30.10.
A number of brokerages have issued reports on CHRS. Zacks Investment Research cut Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Monday. Barclays PLC reaffirmed a “buy” rating and set a $46.00 target price on shares of Coherus BioSciences in a research report on Thursday, August 11th. 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 target price for the company. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Coherus BioSciences currently has an average rating of “Buy” and a consensus target price of $32.60.
The stock has a 50-day moving average of $24.35 and a 200-day moving average of $19.52. The company’s market capitalization is $1.29 billion.
Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($1.72) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.40. The business earned $14.07 million during the quarter, compared to analysts’ expectations of $6.87 million. Equities research analysts anticipate that Coherus BioSciences Inc. will post ($6.19) EPS for the current fiscal year.
In related news, insider Fmr Llc sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $29.86, for a total transaction of $2,986,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Peter K. Watler sold 73,741 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $25.02, for a total value of $1,844,999.82. Following the transaction, the insider now directly owns 50,000 shares in the company, valued at $1,251,000. 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 position in Coherus BioSciences Inc. (NASDAQ:CHRS) by 3.1% during the fourth quarter, according to its most recent 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 about 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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