Barclays PLC Reiterates Overweight Rating for Coherus BioSciences Inc. (CHRS)
Coherus BioSciences Inc. (NASDAQ:CHRS)‘s stock had its “overweight” rating reiterated by analysts at Barclays PLC in a report issued on Tuesday. They currently have a $46.00 price objective on the stock. Barclays PLC’s target price indicates a potential upside of 80.75% from the company’s previous close.
Several other research firms also recently weighed in on CHRS. Credit Suisse Group AG set a $38.00 price target on shares of Coherus BioSciences and gave the company a “buy” rating in a research note on Saturday, September 17th. Citigroup Inc. started coverage on shares of Coherus BioSciences in a research note on Wednesday, July 27th. They issued a “buy” rating and a $36.00 price target for the company. Zacks Investment Research raised shares of Coherus BioSciences from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Finally, Maxim Group started coverage on shares of Coherus BioSciences in a research note on Wednesday, September 7th. They issued a “buy” rating and a $43.00 price target for the company. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.50.
Shares of Coherus BioSciences (NASDAQ:CHRS) traded down 0.47% during midday trading on Tuesday, reaching $25.33. 348,896 shares of the company traded hands. The firm’s market capitalization is $1.10 billion. Coherus BioSciences has a 12-month low of $12.04 and a 12-month high of $31.98. The company has a 50-day moving average of $29.76 and a 200 day moving average of $22.83.
Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($1.72) earnings per share for the quarter, missing the consensus estimate of ($1.32) by $0.40. Coherus BioSciences had a negative net margin of 591.61% and a negative return on equity of 1,583.92%. The company earned $14.07 million during the quarter, compared to the consensus estimate of $6.87 million. On average, equities analysts forecast that Coherus BioSciences will post ($6.19) earnings per share for the current year.
In other news, CFO Jean-Frederic Viret sold 3,900 shares of the business’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $29.88, for a total transaction of $116,532.00. Following the completion of the sale, the chief financial officer now directly owns 6,225 shares of the company’s stock, valued at $186,003. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Peter K. Watler sold 43,495 shares of the business’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $20.02, for a total transaction of $870,769.90. The disclosure for this sale can be found here. Insiders own 32.88% of the company’s stock.
Several large investors have recently bought and sold shares of the company. FMR LLC increased its stake 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 during the last quarter. Kohlberg Kravis Roberts & Co. L.P. purchased a new stake in shares of Coherus BioSciences during the second quarter worth about $51,600,000. JPMorgan Chase & Co. increased its stake 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 during the last quarter. BlackRock Fund Advisors increased its stake 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 during the last quarter. Finally, Vanguard Group Inc. increased its stake 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 during the last quarter. 58.37% of the stock is owned by institutional investors.
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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