Coherus BioSciences Inc. (CHRS) CFO Jean-Frederic Viret Sells 3,900 Shares of Stock
Coherus BioSciences Inc. (NASDAQ:CHRS) CFO Jean-Frederic Viret sold 3,900 shares of Coherus BioSciences stock in a transaction 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 completion of the transaction, the chief financial officer now owns 6,225 shares in the company, valued at approximately $186,003. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) opened at 26.29 on Friday. Coherus BioSciences Inc. has a 52 week low of $12.04 and a 52 week high of $31.98. The company’s market cap is $1.14 billion. The stock’s 50 day moving average is $29.97 and its 200-day moving average is $22.66.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Tuesday, August 9th. The company reported ($1.72) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.32) by $0.40. Coherus BioSciences had a negative return on equity of 1,583.92% and a negative net margin of 591.61%. The company had revenue of $14.07 million for the quarter, compared to the consensus estimate of $6.87 million. On average, equities analysts anticipate that Coherus BioSciences Inc. will post ($6.19) earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Coherus BioSciences by 9.0% in the second quarter. FMR LLC now owns 6,396,228 shares of the company’s stock worth $108,032,000 after buying an additional 530,715 shares in the last quarter. Kohlberg Kravis Roberts & Co. L.P. bought a new position in shares of Coherus BioSciences during the second quarter worth $51,600,000. JPMorgan Chase & Co. raised its position in shares of Coherus BioSciences by 28.2% in the first quarter. JPMorgan Chase & Co. now owns 2,122,551 shares of the company’s stock worth $45,062,000 after buying an additional 466,388 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Coherus BioSciences by 13.3% in the second quarter. BlackRock Fund Advisors now owns 1,268,735 shares of the company’s stock worth $21,429,000 after buying an additional 148,600 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Coherus BioSciences by 53.7% in the second quarter. Vanguard Group Inc. now owns 1,008,298 shares of the company’s stock worth $17,030,000 after buying an additional 352,103 shares in the last quarter. Hedge funds and other institutional investors own 58.37% of the company’s stock.
A number of equities analysts recently commented on CHRS shares. Credit Suisse Group AG set a $38.00 target price on shares of Coherus BioSciences and gave the stock a “buy” rating in a research report on Saturday, September 17th. Citigroup Inc. started coverage on shares of Coherus BioSciences in a research report on Wednesday, July 27th. They issued a “buy” rating and a $36.00 target price on the stock. Barclays PLC reiterated a “buy” rating and issued a $46.00 target price on shares of Coherus BioSciences in a research report on Thursday, August 11th. Zacks Investment Research raised shares of Coherus BioSciences from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Maxim Group initiated coverage on shares of Coherus BioSciences in a report on Wednesday, September 7th. They issued a “buy” rating and a $43.00 price target on the stock. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $36.50.
About Coherus BioSciences
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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