Dennis M. Lanfear Sells 2,900 Shares of Coherus BioSciences Inc. (CHRS) Stock
Coherus BioSciences Inc. (NASDAQ:CHRS) insider Dennis M. Lanfear sold 2,900 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $31.79, for a total value of $92,191.00. Following the sale, the insider now owns 71,635 shares in the company, valued at $2,277,276.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) opened at 30.88 on Friday. Coherus BioSciences Inc. has a one year low of $12.04 and a one year high of $31.98. The stock has a 50 day moving average price of $29.98 and a 200 day moving average price of $22.31. The stock’s market capitalization is $1.34 billion.
Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($1.72) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.40. Coherus BioSciences had a negative return on equity of 1,583.92% and a negative net margin of 591.61%. The firm earned $14.07 million during the quarter, compared to analyst estimates of $6.87 million. Equities analysts forecast that Coherus BioSciences Inc. will post ($6.19) earnings per share for the current year.
Large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Coherus BioSciences by 440.1% in the second quarter. BlackRock Inc. now owns 7,659 shares of the company’s stock valued at $129,000 after buying an additional 6,241 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Coherus BioSciences during the first quarter valued at about $216,000. BlackRock Group LTD boosted its stake in Coherus BioSciences by 244.7% in the first quarter. BlackRock Group LTD now owns 10,280 shares of the company’s stock valued at $218,000 after buying an additional 7,298 shares during the last quarter. Bourgeon Capital Management LLC purchased a new stake in Coherus BioSciences during the second quarter valued at about $226,000. Finally, Jennison Associates LLC purchased a new stake in Coherus BioSciences during the second quarter valued at about $228,000. Institutional investors own 58.37% of the company’s stock.
A number of equities research analysts have issued reports on the company. Credit Suisse Group AG set a $38.00 price objective on Coherus BioSciences and gave the company a “buy” rating in a research report on Saturday, September 17th. Maxim Group assumed coverage on 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 Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Monday, August 15th. Barclays PLC restated 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 report on Wednesday, July 27th. They issued a “buy” rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Coherus BioSciences has an average rating of “Buy” and an average target price of $36.50.
About Coherus BioSciences
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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