Coherus BioSciences Inc. (CHRS) Insider Sells $291,144.77 in Stock
Coherus BioSciences Inc. (NASDAQ:CHRS) insider Alan C. Herman sold 11,333 shares of Coherus BioSciences stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $25.69, for a total value of $291,144.77. Following the completion of the transaction, the insider now directly owns 161,687 shares in the company, valued at approximately $4,153,739.03. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) opened at 25.78 on Thursday. Coherus BioSciences Inc. has a one year low of $12.04 and a one year high of $31.98. The stock’s 50 day moving average price is $29.53 and its 200 day moving average price is $22.89. The firm’s market capitalization is $1.12 billion.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($1.72) earnings per share (EPS) 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 firm had revenue of $14.07 million for the quarter, compared to analyst estimates of $6.87 million. Analysts expect that Coherus BioSciences Inc. will post ($6.19) EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. 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 valued at $108,032,000 after buying an additional 530,715 shares during the period. Kohlberg Kravis Roberts & Co. L.P. purchased a new position in shares of Coherus BioSciences during the second quarter valued at about $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 valued at $45,062,000 after buying an additional 466,388 shares during the period. 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 valued at $21,429,000 after buying an additional 148,600 shares during the period. 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 valued at $17,030,000 after buying an additional 352,103 shares during the period. 58.37% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on CHRS. Credit Suisse Group AG set a $38.00 target price on Coherus BioSciences and gave the company a “buy” rating in a research note on Saturday, September 17th. Barclays PLC reaffirmed an “overweight” rating and set a $46.00 target price on shares of Coherus BioSciences in a research note on Tuesday. Zacks Investment Research raised Coherus BioSciences from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Citigroup Inc. began coverage on Coherus BioSciences in a research note on Wednesday, July 27th. They set a “buy” rating and a $36.00 target price on the stock. Finally, Maxim Group began coverage on Coherus BioSciences in a research note on Wednesday, September 7th. They set a “buy” rating and a $43.00 target price on the stock. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price 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.
Receive News & Stock Ratings for Coherus BioSciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherus BioSciences Inc. and related stocks with our FREE daily email newsletter.