Coherus BioSciences Inc. (CHRS) Insider Sells $291,144.77 in Stock
Coherus BioSciences Inc. (NASDAQ:CHRS) insider Alan C. Herman sold 11,333 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $25.69, for a total transaction of $291,144.77. Following the completion of the transaction, the insider now directly owns 161,687 shares in the company, valued at approximately $4,153,739.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Coherus BioSciences Inc. (NASDAQ:CHRS) opened at 28.71 on Tuesday. The firm’s market capitalization is $1.25 billion. The firm’s 50-day moving average is $29.26 and its 200 day moving average is $23.07. Coherus BioSciences Inc. has a one year low of $12.04 and a one year high of $31.98.
Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($1.72) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.32) by $0.40. Coherus BioSciences had a negative net margin of 591.61% and a negative return on equity of 1,583.92%. The company had revenue of $14.07 million for the quarter, compared to analysts’ expectations of $6.87 million. Analysts forecast that Coherus BioSciences Inc. will post ($6.22) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its position in shares of Coherus BioSciences by 23.8% in the second quarter. California State Teachers Retirement System now owns 61,840 shares of the company’s stock worth $1,044,000 after buying an additional 11,902 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Coherus BioSciences by 36.2% in the second quarter. Bank of New York Mellon Corp now owns 137,857 shares of the company’s stock worth $2,328,000 after buying an additional 36,650 shares during the last quarter. CAM Group Holding A S increased its position in shares of Coherus BioSciences by 1.7% in the second quarter. CAM Group Holding A S now owns 151,000 shares of the company’s stock worth $2,550,000 after buying an additional 2,500 shares during the last quarter. Iguana Healthcare Management LLC increased its position in shares of Coherus BioSciences by 29.2% in the first quarter. Iguana Healthcare Management LLC now owns 96,901 shares of the company’s stock worth $2,057,000 after buying an additional 21,901 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Coherus BioSciences by 107,900.0% in the first quarter. Royal Bank of Canada now owns 16,200 shares of the company’s stock worth $344,000 after buying an additional 16,185 shares during the last quarter. 58.37% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on CHRS. Credit Suisse Group AG set a $38.00 target price on shares of Coherus BioSciences and gave the company a “buy” rating in a research note on Saturday, September 17th. Maxim Group assumed coverage on shares of Coherus BioSciences in a report on Wednesday, September 7th. They set a “buy” rating and a $43.00 price target for the company. Zacks Investment Research lowered shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a report on Monday, August 15th. Barclays PLC reaffirmed a “buy” rating and set a $46.00 price target on shares of Coherus BioSciences in a report on Thursday, August 11th. Finally, Citigroup Inc. assumed coverage on shares of Coherus BioSciences in a report on Wednesday, July 27th. They set a “buy” rating and a $36.00 price target for the company. 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 currently has an average rating of “Buy” and an average target price of $36.50.
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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