Geode Capital Management LLC Raises Stake in Coherus BioSciences, Inc. (NASDAQ:CHRS)
Geode Capital Management LLC boosted its position in Coherus BioSciences, Inc. (NASDAQ:CHRS) by 14.3% during the first quarter, Holdings Channel reports. The fund owned 272,749 shares of the biotechnology company’s stock after buying an additional 34,139 shares during the period. Geode Capital Management LLC’s holdings in Coherus BioSciences were worth $5,768,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of CHRS. FMR LLC boosted its position in Coherus BioSciences by 17.2% in the first quarter. FMR LLC now owns 7,671,981 shares of the biotechnology company’s stock worth $162,262,000 after buying an additional 1,124,163 shares during the last quarter. Vanguard Group Inc. boosted its position in Coherus BioSciences by 88.8% in the first quarter. Vanguard Group Inc. now owns 2,209,244 shares of the biotechnology company’s stock worth $46,726,000 after buying an additional 1,039,402 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Coherus BioSciences by 2,562.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 501,673 shares of the biotechnology company’s stock worth $14,121,000 after buying an additional 482,828 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Coherus BioSciences by 110.7% in the first quarter. TIAA CREF Investment Management LLC now owns 586,875 shares of the biotechnology company’s stock worth $12,412,000 after buying an additional 308,332 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Coherus BioSciences during the first quarter worth about $2,928,000. Hedge funds and other institutional investors own 72.07% of the company’s stock.
Shares of Coherus BioSciences, Inc. (CHRS) opened at 12.30 on Thursday. The company’s 50-day moving average price is $13.84 and its 200 day moving average price is $19.76. Coherus BioSciences, Inc. has a one year low of $12.05 and a one year high of $31.98. The stock’s market capitalization is $631.56 million.
Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($1.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.29) by $0.21. The company had revenue of $1.40 million during the quarter. Coherus BioSciences had a negative return on equity of 307.41% and a negative net margin of 73.89%. Analysts anticipate that Coherus BioSciences, Inc. will post ($5.13) EPS for the current year.
A number of equities analysts have recently issued reports on CHRS shares. Citigroup Inc. set a $38.00 price objective on Coherus BioSciences and gave the stock a “buy” rating in a report on Wednesday, May 17th. BMO Capital Markets started coverage on Coherus BioSciences in a report on Friday, May 5th. They issued an “outperform” rating and a $54.00 price objective for the company. Maxim Group set a $43.00 price objective on Coherus BioSciences and gave the stock a “buy” rating in a report on Monday, May 15th. Barclays PLC restated an “overweight” rating and set a $46.00 target price on shares of Coherus BioSciences in a report on Sunday, May 21st. Finally, ValuEngine upgraded Coherus BioSciences from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $35.90.
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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