Coherus BioSciences Inc. (CHRS) Sees Unusually-High Trading Volume
Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) saw unusually-high trading volume on Monday . Approximately 594,095 shares changed hands during trading, an increase of 66% from the previous session’s volume of 358,341 shares.The stock last traded at $30.00 and had previously closed at $29.12.
Several equities research analysts have issued reports on CHRS shares. Zacks Investment Research downgraded shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Citigroup Inc. started coverage on shares of Coherus BioSciences in a research report on Wednesday, July 27th. They set a “buy” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $32.60.
The company’s market capitalization is $1.18 billion. The stock has a 50 day moving average of $21.54 and a 200 day moving average of $18.77.
Coherus BioSciences (NASDAQ:CHRS) last released its earnings results on Monday, May 9th. The company reported ($1.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.42) by $0.25. Analysts anticipate that Coherus BioSciences Inc. will post ($5.76) EPS for the current fiscal year.
In related news, insider Peter K. Watler sold 73,741 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $25.02, for a total value of $1,844,999.82. Following the completion of the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $1,251,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Fmr Llc sold 48,600 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $28.48, for a total transaction of $1,384,128.00. 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 stake in Coherus BioSciences Inc. (NASDAQ:CHRS) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 367,021 shares of the company’s stock after buying an additional 11,023 shares during the period. Jennison Associates LLC owned 0.94% of Coherus BioSciences worth $8,427,000 at the end of the most recent quarter.
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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