Coherus BioSciences Inc. (CHRS) Trading Down 3.4%
Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) fell 3.4% on Tuesday . The stock traded as low as $29.00 and last traded at $29.09, with a volume of 121,618 shares traded. The stock had previously closed at $30.10.
Several research firms have weighed in on CHRS. Zacks Investment Research downgraded shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Monday. Barclays PLC reissued a “buy” rating and set a $46.00 target price on shares of Coherus BioSciences in a research report on Thursday, August 11th. Finally, Citigroup Inc. began coverage on shares of Coherus BioSciences in a research report on Wednesday, July 27th. They set a “buy” rating and a $36.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $32.60.
The company’s 50 day moving average is $23.52 and its 200-day moving average is $19.33. The firm’s market cap is $1.26 billion.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly 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. The firm had revenue of $14.07 million for the quarter, compared to analyst estimates of $6.87 million. On average, analysts predict that Coherus BioSciences Inc. will post ($6.19) earnings per share for the current fiscal year.
In other news, insider Alan C. Herman sold 4,250 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $16.89, for a total transaction of $71,782.50. Following the sale, the insider now owns 198,115 shares of the company’s stock, valued at $3,346,162.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alan C. Herman sold 11,333 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $25.54, for a total transaction of $289,444.82. Following the sale, the insider now directly owns 186,782 shares in the company, valued at approximately $4,770,412.28. The disclosure for this sale can be found here.
A hedge fund recently raised its stake 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 13F filing with the SEC. 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 approximately 0.94% of Coherus BioSciences worth $8,427,000 as of its most recent SEC filing.
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.