Coherus BioSciences Inc. (CHRS) Shares Up 2.2%
Coherus BioSciences Inc. (NASDAQ:CHRS) shot up 2.2% on Friday . The company traded as high as $31.42 and last traded at $30.79, with a volume of 222,635 shares changing hands. The stock had previously closed at $30.14.
A number of brokerages have recently weighed in on CHRS. Zacks Investment Research downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Barclays PLC reiterated a “buy” rating and issued a $46.00 price target on shares of Coherus BioSciences in a report on Thursday, August 11th. Finally, Citigroup Inc. began coverage on Coherus BioSciences in a report on Wednesday, July 27th. They issued a “buy” rating and a $36.00 price target for the company. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.60.
The company’s market capitalization is $1.32 billion. The company has a 50-day moving average price of $25.12 and a 200 day moving average price of $19.72.
Coherus BioSciences (NASDAQ:CHRS) last released 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 firm earned $14.07 million during the quarter, compared to the consensus estimate of $6.87 million. Analysts anticipate that Coherus BioSciences Inc. will post ($6.19) earnings per share for the current year.
In related news, insider Alan C. Herman sold 4,250 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $16.89, for a total transaction of $71,782.50. Following the completion of the sale, the insider now owns 198,115 shares in the company, valued at approximately $3,346,162.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peter K. Watler sold 43,495 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were 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.
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 disclosure with the Securities and Exchange Commission. The firm 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 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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