Coherus Biosciences (CHRS) Downgraded to Buy at ValuEngine
Coherus Biosciences (NASDAQ:CHRS) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.
Several other analysts also recently commented on CHRS. BidaskClub downgraded shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Coherus Biosciences from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Tuesday, June 19th. Finally, HC Wainwright assumed coverage on shares of Coherus Biosciences in a research report on Tuesday, August 28th. They set a “buy” rating and a $28.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $21.80.
Shares of CHRS stock traded down $0.40 on Friday, hitting $17.35. 490,300 shares of the stock traded hands, compared to its average volume of 692,228. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -3.87 and a beta of 3.64. Coherus Biosciences has a 52 week low of $8.05 and a 52 week high of $20.66. The company has a debt-to-equity ratio of 1.66, a current ratio of 7.79 and a quick ratio of 7.79.
In other Coherus Biosciences news, insider Barbara K. Finck sold 1,760 shares of Coherus Biosciences stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $15.01, for a total value of $26,417.60. Following the sale, the insider now directly owns 37,543 shares in the company, valued at approximately $563,520.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Healy sold 25,000 shares of Coherus Biosciences stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $20.50, for a total transaction of $512,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,331 shares of company stock worth $803,935. 26.28% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Coherus Biosciences by 24.3% in the 2nd quarter. BlackRock Inc. now owns 4,144,082 shares of the biotechnology company’s stock valued at $58,018,000 after acquiring an additional 810,358 shares during the last quarter. Sofinnova Ventures Inc bought a new stake in Coherus Biosciences in the 1st quarter valued at $31,970,000. JPMorgan Chase & Co. increased its holdings in Coherus Biosciences by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 2,045,068 shares of the biotechnology company’s stock valued at $22,598,000 after acquiring an additional 143,074 shares during the last quarter. Orbimed Advisors LLC increased its holdings in Coherus Biosciences by 0.9% in the 2nd quarter. Orbimed Advisors LLC now owns 1,480,482 shares of the biotechnology company’s stock valued at $20,727,000 after acquiring an additional 13,682 shares during the last quarter. Finally, Rock Springs Capital Management LP increased its holdings in Coherus Biosciences by 10.4% in the 1st quarter. Rock Springs Capital Management LP now owns 695,000 shares of the biotechnology company’s stock valued at $7,680,000 after acquiring an additional 65,500 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.
About Coherus Biosciences
Coherus BioSciences, Inc, a biosimilar company, develops and commercializes various therapeutic products worldwide. The company engages in the development of late-stage clinical products, including CHS-1701 pegfilgrastim biosimilar, a granulocyte colony-stimulating factor product candidate; CHS-1420 adalimumab biosimilar, an anti-tumor necrosis factor product candidate; and CHS-0214, an etanercept biosimilar for rheumatoid arthritis and psoriasis.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Coherus Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherus Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.