Coherus BioSciences Inc. (CHRS) Shares Down 1%
Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) dropped 1% during mid-day trading on Monday . The company traded as low as $28.49 and last traded at $29.10, with a volume of 96,280 shares. The stock had previously closed at $29.39.
CHRS has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Barclays PLC reissued a “buy” rating and set a $46.00 price objective on shares of Coherus BioSciences in a research report on Thursday, August 11th. Finally, Citigroup Inc. initiated coverage on Coherus BioSciences in a research report on Wednesday, July 27th. They set a “buy” rating and a $36.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $32.60.
The stock’s market capitalization is $1.27 billion. The company’s 50-day moving average price is $27.02 and its 200 day moving average price is $20.53.
Coherus BioSciences (NASDAQ:CHRS) last posted its earnings results on Tuesday, August 9th. The company reported ($1.72) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.32) by $0.40. The business earned $14.07 million during the quarter, compared to the consensus estimate of $6.87 million. On average, equities analysts anticipate that Coherus BioSciences Inc. will post ($6.19) earnings per share for the current fiscal year.
In other news, insider Peter K. Watler sold 3,991 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $26.13, for a total value of $104,284.83. Following the sale, the insider now directly owns 3,991 shares in the company, valued at $104,284.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan C. Herman sold 4,250 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $16.89, for a total value of $71,782.50. Following the completion of the sale, the insider now owns 198,115 shares in the company, valued at $3,346,162.35. 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 shares of Coherus BioSciences Inc. (NASDAQ:CHRS) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 reporting period.
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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