Coherus Biosciences (CHRS) Issues Earnings Results, Misses Expectations By $0.08 EPS
Coherus Biosciences (NASDAQ:CHRS) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.08), Morningstar.com reports.
NASDAQ:CHRS traded down $1.88 on Friday, reaching $10.06. The company’s stock had a trading volume of 2,369,603 shares, compared to its average volume of 892,346. Coherus Biosciences has a 1-year low of $8.05 and a 1-year high of $20.66. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 1.66. The stock has a market cap of $846.40 million, a price-to-earnings ratio of -2.24 and a beta of 3.72.
In other news, Director James Healy sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $20.50, for a total transaction of $512,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Barbara K. Finck sold 1,760 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $18.58, for a total value of $32,700.80. Following the transaction, the insider now directly owns 38,803 shares of the company’s stock, valued at $720,959.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,520 shares of company stock valued at $578,676. Insiders own 26.28% of the company’s stock.
A number of equities research analysts recently commented on the company. BidaskClub downgraded Coherus Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. ValuEngine downgraded Coherus Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, September 14th. Zacks Investment Research upgraded Coherus Biosciences from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. HC Wainwright set a $28.00 price objective on Coherus Biosciences and gave the company a “buy” rating in a report on Monday, November 5th. Finally, Cowen reiterated a “buy” rating and issued a $45.00 price objective on shares of Coherus Biosciences in a report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Coherus Biosciences has an average rating of “Buy” and a consensus target price of $27.20.
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.
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