Alliancebernstein L.P. Sells 3,500 Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS)
Alliancebernstein L.P. decreased its position in Coherus BioSciences, Inc. (NASDAQ:CHRS) by 10.6% during the first quarter, Holdings Channel reports. The firm owned 29,420 shares of the biotechnology company’s stock after selling 3,500 shares during the period. Alliancebernstein L.P.’s holdings in Coherus BioSciences were worth $622,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the company. UBS Asset Management Americas Inc. raised its position in shares of Coherus BioSciences by 79.5% in the first quarter. UBS Asset Management Americas Inc. now owns 900,317 shares of the biotechnology company’s stock worth $19,042,000 after buying an additional 398,644 shares during the period. Swiss National Bank raised its position in Coherus BioSciences by 39.9% in the first quarter. Swiss National Bank now owns 52,200 shares of the biotechnology company’s stock worth $1,104,000 after buying an additional 14,900 shares during the period. Pictet Asset Management Ltd. raised its position in Coherus BioSciences by 0.3% in the first quarter. Pictet Asset Management Ltd. now owns 441,788 shares of the biotechnology company’s stock worth $9,344,000 after buying an additional 1,432 shares during the period. Bank of New York Mellon Corp raised its position in Coherus BioSciences by 17.9% in the first quarter. Bank of New York Mellon Corp now owns 165,140 shares of the biotechnology company’s stock worth $3,492,000 after buying an additional 25,108 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in Coherus BioSciences during the first quarter worth approximately $459,000. Institutional investors own 72.07% of the company’s stock.
Coherus BioSciences, Inc. (NASDAQ CHRS) opened at 12.55 on Monday. Coherus BioSciences, Inc. has a 1-year low of $12.55 and a 1-year high of $31.98. The company’s market cap is $643.66 million. The firm’s 50-day moving average price is $14.27 and its 200-day moving average price is $20.24.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Monday, May 8th. The biotechnology company reported ($1.54) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.54). Coherus BioSciences had a negative net margin of 76.85% and a negative return on equity of 827.65%. The business had revenue of $0.16 million for the quarter. Equities research analysts forecast that Coherus BioSciences, Inc. will post ($5.13) EPS for the current fiscal year.
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A number of research firms have commented on CHRS. Maxim Group set a $43.00 price objective on Coherus BioSciences and gave the stock a “buy” rating in a research note on Monday, May 15th. BMO Capital Markets restated an “outperform” rating and set a $54.00 price objective on shares of Coherus BioSciences in a research note on Monday, May 15th. Barclays PLC restated an “overweight” rating and set a $46.00 price objective on shares of Coherus BioSciences in a research note on Sunday, May 21st. Citigroup Inc. set a $38.00 price objective on Coherus BioSciences and gave the stock a “buy” rating in a research note on Wednesday, May 17th. Finally, ValuEngine upgraded Coherus BioSciences from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Coherus BioSciences currently has an average rating of “Buy” and an average target price of $37.11.
Coherus BioSciences Company Profile
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is engaged in the business of developing and commercializing biosimilar products. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta) and bevacizumab (Avastin); Immunology (Anti-TNF) biosimilar candidates etanercept (Enbrel) and adalimumab (Humira); Ophthalmology biosimilar candidate ranibizumab (Lucentis), and Multiple sclerosis small molecule therapeutic candidate, CHS-131.
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