Coherus BioSciences Inc. (CHRS) Trading 2.2% Higher
Coherus BioSciences Inc. (NASDAQ:CHRS) traded up 2.2% during mid-day trading on Friday . The stock traded as high as $31.42 and last traded at $30.79, with a volume of 222,635 shares. The stock had previously closed at $30.14.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Monday. Barclays PLC reiterated a “buy” rating and set a $46.00 price target on shares of Coherus BioSciences in a research note on Thursday, August 11th. Finally, Citigroup Inc. started coverage on shares of Coherus BioSciences in a research note on Wednesday, July 27th. They set a “buy” rating and a $36.00 price target on the stock. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $32.60.
The stock’s 50-day moving average price is $25.12 and its 200 day moving average price is $19.72. The company’s market capitalization is $1.32 billion.
Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($1.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.40. The firm earned $14.07 million during the quarter, compared to the consensus estimate of $6.87 million. Equities analysts anticipate that Coherus BioSciences Inc. will post ($6.19) EPS for the current year.
In other news, insider Peter K. Watler sold 3,991 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $26.13, for a total transaction of $104,284.83. Following the sale, the insider now owns 3,991 shares in the company, valued at approximately $104,284.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Peter K. Watler sold 43,495 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $20.02, for a total value of $870,769.90. 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 position in Coherus BioSciences Inc. (NASDAQ:CHRS) by 3.1% during the fourth quarter, according to its most recent filing 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 approximately 0.94% of Coherus BioSciences worth $8,427,000 at the end of the most recent quarter.
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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