Coherus BioSciences Inc. (CHRS) Stock Rating Reaffirmed by Barclays PLC
Coherus BioSciences Inc. (NASDAQ:CHRS)‘s stock had its “overweight” rating reaffirmed by analysts at Barclays PLC in a research report issued on Tuesday. They currently have a $46.00 target price on the stock. Barclays PLC’s price target suggests a potential upside of 78.43% from the company’s current price.
A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a report on Monday, August 15th. Citigroup Inc. assumed coverage on shares of Coherus BioSciences in a research note on Wednesday, July 27th. They set a “buy” rating and a $36.00 target price for the company. Credit Suisse Group AG reissued a “buy” rating and set a $38.00 target price on shares of Coherus BioSciences in a research note on Wednesday, September 28th. Finally, Maxim Group initiated coverage on shares of Coherus BioSciences in a research report on Wednesday, September 7th. They set a “buy” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Coherus BioSciences has a consensus rating of “Buy” and a consensus target price of $36.50.
Coherus BioSciences (NASDAQ:CHRS) opened at 25.78 on Tuesday. The company has a 50 day moving average of $29.53 and a 200-day moving average of $22.89. Coherus BioSciences has a one year low of $12.04 and a one year high of $31.98. The company’s market cap is $1.12 billion.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results 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 business had revenue of $14.07 million for the quarter, compared to analysts’ expectations of $6.87 million. On average, equities analysts expect that Coherus BioSciences will post ($6.19) earnings per share for the current fiscal year.
In other Coherus BioSciences news, insider Peter K. Watler sold 3,991 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were 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 of the company’s stock, valued at approximately $104,284.83. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Peter K. Watler sold 73,741 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,844,999.82. Following the completion of the sale, the insider now directly owns 50,000 shares in the company, valued at $1,251,000. The disclosure for this sale can be found here. 32.88% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in CHRS. BlackRock Inc. increased its stake in shares of Coherus BioSciences by 440.1% in the second quarter. BlackRock Inc. now owns 7,659 shares of the company’s stock worth $129,000 after buying an additional 6,241 shares in the last quarter. Bourgeon Capital Management LLC bought a new position in shares of Coherus BioSciences during the second quarter valued at about $226,000. Jennison Associates LLC bought a new position in shares of Coherus BioSciences during the second quarter valued at about $228,000. State Board of Administration of Florida Retirement System bought a new position in shares of Coherus BioSciences during the second quarter valued at about $241,000. Finally, Emerald Acquisition Ltd. bought a new position in shares of Coherus BioSciences during the second quarter valued at about $253,000. 58.37% of the stock is currently owned by institutional investors.
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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