Coherus BioSciences Inc. (CHRS) Shares Down 4.2%
Coherus BioSciences Inc. (NASDAQ:CHRS)’s share price fell 4.2% during trading on Thursday . The company traded as low as $24.63 and last traded at $24.69, with a volume of 159,321 shares traded. The stock had previously closed at $25.78.
A number of research firms have recently commented on CHRS. Zacks Investment Research downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Citigroup Inc. began coverage on Coherus BioSciences in a research note on Wednesday. They issued a “buy” rating and a $36.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Coherus BioSciences has an average rating of “Buy” and an average target price of $32.60.
The stock’s 50 day moving average price is $19.49 and its 200-day moving average price is $18.19. The company’s market capitalization is $993.79 million.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Monday, May 9th. The company reported ($1.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.42) by $0.25. Equities research analysts expect that Coherus BioSciences Inc. will post ($5.90) EPS for the current year.
In other news, insider Peter K. Watler sold 73,741 shares of Coherus BioSciences stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,844,999.82. Following the transaction, the insider now owns 50,000 shares in the company, valued at $1,251,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan C. Herman sold 4,250 shares of Coherus BioSciences stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $19.20, for a total value of $81,600.00. Following the transaction, the insider now owns 207,167 shares in the company, valued at approximately $3,977,606.40. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Coherus BioSciences stock. Jennison Associates LLC raised its position in shares of Coherus BioSciences Inc. (NASDAQ:CHRS) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 367,021 shares of the company’s stock after buying an additional 11,023 shares during the period. Jennison Associates LLC owned about 0.94% of Coherus BioSciences worth $8,427,000 at the end of the most recent reporting period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.