Coherus BioSciences Inc. (CHRS) Research Coverage Started at Robert W. Baird
Research analysts at Robert W. Baird began coverage on shares of Coherus BioSciences Inc. (NASDAQ:CHRS) in a research report issued to clients and investors on Tuesday. The brokerage set an “outperform” rating on the stock.
Several other brokerages have also issued reports on CHRS. 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. Maxim Group set a $43.00 target price on shares of Coherus BioSciences and gave the stock a “buy” rating in a research report on Saturday, October 8th. Citigroup Inc. initiated 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 for the company. 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. Finally, Zacks Investment Research upgraded shares of Coherus BioSciences from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $36.50.
Coherus BioSciences (NASDAQ:CHRS) traded up 1.18% on Tuesday, hitting $29.22. The stock had a trading volume of 313,810 shares. The company’s market cap is $1.27 billion. Coherus BioSciences has a 52-week low of $12.04 and a 52-week high of $31.98. The stock’s 50-day moving average is $29.09 and its 200-day moving average is $23.36.
Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($1.72) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.40. The firm had revenue of $14.07 million for the quarter, compared to analysts’ expectations of $6.87 million. Coherus BioSciences had a negative net margin of 591.61% and a negative return on equity of 1,583.92%. Analysts expect that Coherus BioSciences will post ($6.22) earnings per share for the current year.
In other Coherus BioSciences news, insider Peter K. Watler sold 73,741 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,844,999.82. Following the completion of the sale, the insider now directly owns 50,000 shares in the company, valued at $1,251,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Peter K. Watler sold 3,991 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $26.13, for a total transaction of $104,284.83. Following the sale, the insider now owns 3,991 shares of the company’s stock, valued at $104,284.83. The disclosure for this sale can be found here. Company insiders own 32.88% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Coherus BioSciences by 440.1% in the second quarter. BlackRock Inc. now owns 7,659 shares of the company’s stock valued at $129,000 after buying an additional 6,241 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Coherus BioSciences during the third quarter valued at approximately $225,000. Bourgeon Capital Management LLC purchased a new position in shares of Coherus BioSciences during the second quarter valued at approximately $226,000. Jennison Associates LLC purchased a new position in shares of Coherus BioSciences during the second quarter valued at approximately $228,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Coherus BioSciences during the second quarter valued at approximately $241,000. Institutional investors and hedge funds own 58.39% 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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