Coherus BioSciences Inc. (CHRS) Now Covered by Analysts at Standpoint Research
A number of other equities research analysts also recently commented on the company. Citigroup Inc. restated a buy rating and issued a $36.00 target price on shares of Coherus BioSciences in a research report on Monday, November 7th. Zacks Investment Research downgraded Coherus BioSciences from a hold rating to a sell rating in a research report on Monday, August 15th. Robert W. Baird started coverage on Coherus BioSciences in a research report on Tuesday, October 18th. They issued an outperform rating and a $40.00 target price on the stock. Barclays PLC restated an overweight rating and issued a $46.00 target price on shares of Coherus BioSciences in a research report on Tuesday, October 4th. Finally, Credit Suisse Group AG restated a buy rating and issued a $38.00 target price on shares of Coherus BioSciences in a research report on Wednesday, September 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $37.38.
Shares of Coherus BioSciences (NASDAQ:CHRS) opened at 26.90 on Friday. Coherus BioSciences has a 52 week low of $12.04 and a 52 week high of $31.98. The company’s 50 day moving average price is $28.35 and its 200-day moving average price is $25.00. The stock’s market capitalization is $1.17 billion.
Coherus BioSciences (NASDAQ:CHRS) last posted its earnings results on Wednesday, November 9th. The company reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of ($1.56) by $3.23. Coherus BioSciences had a negative return on equity of 1,583.92% and a negative net margin of 52.04%. The company had revenue of $162.80 million for the quarter, compared to the consensus estimate of $7.20 million. During the same quarter in the previous year, the business earned ($1.86) earnings per share. Equities research analysts predict that Coherus BioSciences will post ($2.64) EPS for the current year.
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In related news, insider Alan C. Herman sold 11,333 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was 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 of the company’s stock, valued at approximately $4,153,739.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dennis M. Lanfear sold 2,900 shares of the business’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $31.79, for a total value of $92,191.00. Following the transaction, the insider now directly owns 71,635 shares of the company’s stock, valued at $2,277,276.65. The disclosure for this sale can be found here. 32.88% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHRS. BlackRock Inc. boosted its position 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. SG Americas Securities LLC bought a new position in Coherus BioSciences during the third quarter valued at approximately $206,000. Fox Run Management L.L.C. bought a new position in Coherus BioSciences during the third quarter valued at approximately $225,000. Endurant Capital Management LP bought a new position in Coherus BioSciences during the third quarter valued at approximately $225,000. Finally, Bourgeon Capital Management LLC bought a new position in Coherus BioSciences during the second quarter valued at approximately $226,000. 64.47% of the stock is owned by hedge funds and other institutional investors.
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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