Coherus BioSciences Inc. (CHRS) Shares Bought by Brown Advisory Inc.
Brown Advisory Inc. increased its position in shares of Coherus BioSciences Inc. (NASDAQ:CHRS) by 23.0% during the second quarter, Holdings Channel reports. The fund owned 297,750 shares of the company’s stock after buying an additional 55,728 shares during the period. Brown Advisory Inc. owned about 0.76% of Coherus BioSciences worth $5,029,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of CHRS. Nationwide Fund Advisors increased its position in shares of Coherus BioSciences by 147.4% in the second quarter. Nationwide Fund Advisors now owns 36,445 shares of the company’s stock worth $616,000 after buying an additional 21,713 shares during the last quarter. Oxford Asset Management bought a new position in shares of Coherus BioSciences during the second quarter worth about $729,000. Turner Investments L.P. bought a new position in shares of Coherus BioSciences during the second quarter worth about $2,041,000. State Board of Administration of Florida Retirement System bought a new position in shares of Coherus BioSciences during the second quarter worth about $241,000. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Coherus BioSciences by 34.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 22,400 shares of the company’s stock worth $376,000 after buying an additional 5,700 shares during the last quarter. 58.37% of the stock is currently owned by institutional investors and hedge funds.
Coherus BioSciences Inc. (NASDAQ:CHRS) traded up 4.00% during mid-day trading on Tuesday, hitting $31.23. 135,960 shares of the stock were exchanged. The stock has a 50 day moving average of $29.63 and a 200-day moving average of $22.09. The stock’s market cap is $1.35 billion. Coherus BioSciences Inc. has a 52-week low of $12.04 and a 52-week high of $31.98.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results 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 company earned $14.07 million during the quarter, compared to the consensus estimate of $6.87 million. Coherus BioSciences had a negative return on equity of 1,583.92% and a negative net margin of 591.61%. Equities analysts predict that Coherus BioSciences Inc. will post ($6.19) EPS for the current fiscal year.
A number of research analysts have issued reports on the stock. Credit Suisse Group AG set a $38.00 price objective on shares of Coherus BioSciences and gave the company a “buy” rating in a research report on Saturday. Maxim Group assumed coverage on shares of Coherus BioSciences in a research report on Wednesday, September 7th. They set a “buy” rating and a $43.00 price objective on the stock. Zacks Investment Research downgraded shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Monday, August 15th. Barclays PLC reaffirmed a “buy” rating and issued a $46.00 target price on shares of Coherus BioSciences in a research report on Thursday, August 11th. Finally, Citigroup Inc. began coverage on shares of Coherus BioSciences in a research report on Wednesday, July 27th. They issued a “buy” rating and a $36.00 target price on the stock. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $36.50.
In other news, insider Peter K. Watler sold 3,991 shares of Coherus BioSciences stock in a transaction 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 completion of the sale, the insider now directly owns 3,991 shares in the company, valued at $104,284.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Fmr Llc sold 100,000 shares of Coherus BioSciences stock in a transaction on Monday, August 8th. The stock was sold at an average price of $29.86, for a total value of $2,986,000.00. The disclosure for this sale can be found here. Insiders own 32.88% of the company’s stock.
Coherus BioSciences Company Profile
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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