Coherus BioSciences’ (CHRS) Buy Rating Reaffirmed at Credit Suisse Group AG
Credit Suisse Group AG reiterated their buy rating on shares of Coherus BioSciences Inc. (NASDAQ:CHRS) in a research report sent to investors on Wednesday morning. The firm currently has a $38.00 price target on the stock.
A number of other brokerages have also recently issued reports on CHRS. Maxim Group initiated coverage on Coherus BioSciences in a report on Wednesday, September 7th. They set a buy rating and a $43.00 price objective on the stock. Zacks Investment Research cut Coherus BioSciences from a hold rating to a sell rating in a report on Monday, August 15th. Barclays PLC reaffirmed a buy rating and issued a $46.00 price target on shares of Coherus BioSciences in a report on Thursday, August 11th. Finally, Citigroup Inc. began coverage on Coherus BioSciences in a report on Wednesday, July 27th. They issued a buy rating and a $36.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $36.50.
Coherus BioSciences (NASDAQ:CHRS) traded down 2.577% on Wednesday, reaching $28.048. 63,367 shares of the company’s stock were exchanged. Coherus BioSciences has a 52 week low of $12.04 and a 52 week high of $31.98. The company’s market cap is $1.22 billion. The stock’s 50 day moving average is $30.05 and its 200 day moving average is $22.64.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($1.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.40. The company had revenue of $14.07 million for the quarter, compared to analysts’ expectations of $6.87 million. Coherus BioSciences had a negative return on equity of 1,583.92% and a negative net margin of 591.61%. On average, equities analysts anticipate that Coherus BioSciences will post ($6.19) earnings per share for the current year.
In related news, CFO Jean-Frederic Viret sold 3,900 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $29.88, for a total transaction of $116,532.00. Following the transaction, the chief financial officer now directly owns 6,225 shares in the company, valued at approximately $186,003. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alan C. Herman sold 4,250 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $16.89, for a total value of $71,782.50. Following the transaction, the insider now owns 198,115 shares in the company, valued at $3,346,162.35. The disclosure for this sale can be found here. Corporate insiders own 32.88% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CHRS. Kohlberg Kravis Roberts & Co. L.P. bought a new position in Coherus BioSciences during the second quarter valued at about $51,600,000. Citadel Advisors LLC acquired a new stake in Coherus BioSciences during the second quarter valued at $11,413,000. FMR LLC boosted its stake in Coherus BioSciences by 9.0% in the second quarter. FMR LLC now owns 6,396,228 shares of the company’s stock valued at $108,032,000 after buying an additional 530,715 shares during the period. JPMorgan Chase & Co. boosted its stake in Coherus BioSciences by 28.2% in the first quarter. JPMorgan Chase & Co. now owns 2,122,551 shares of the company’s stock valued at $45,062,000 after buying an additional 466,388 shares during the period. Finally, AXA acquired a new stake in Coherus BioSciences during the first quarter valued at $9,528,000. Institutional investors and hedge funds own 58.37% of the company’s stock.
Coherus BioSciences Company Profile
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.
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