Coherus BioSciences Inc. (CHRS) Stock Price Down 1.8%
Coherus BioSciences Inc. (NASDAQ:CHRS) traded down 1.8% during mid-day trading on Tuesday . The stock traded as low as $29.53 and last traded at $29.66, with a volume of 213,303 shares trading hands. The stock had previously closed at $30.21.
Several equities research analysts recently issued reports on the company. Zacks Investment Research cut Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Citigroup Inc. assumed coverage on Coherus BioSciences in a research note on Wednesday, July 27th. They issued a “buy” rating and a $36.00 price target for the company. Finally, Barclays PLC reiterated a “buy” rating and issued a $46.00 price target on shares of Coherus BioSciences in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $32.60.
The company’s 50-day moving average is $25.62 and its 200 day moving average is $20.06. The stock’s market capitalization is $1.30 billion.
Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($1.72) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.40. The business had revenue of $14.07 million for the quarter, compared to analysts’ expectations of $6.87 million. Analysts anticipate that Coherus BioSciences Inc. will post ($6.19) EPS for the current year.
In other news, insider Alan C. Herman sold 4,250 shares of the firm’s stock in a transaction that occurred 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 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 document filed with the SEC, which is available at the SEC website. Also, insider Fmr Llc sold 100,000 shares of the firm’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 disclosure for this sale can be found here.
An institutional investor recently raised its position in Coherus BioSciences stock. Schwab Charles Investment Management Inc. increased its stake in Coherus BioSciences Inc. (NASDAQ:CHRS) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,108 shares of the company’s stock after buying an additional 845 shares during the period. Schwab Charles Investment Management Inc. owned 0.13% of Coherus BioSciences worth $1,151,000 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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