Coherus BioSciences Inc. (CHRS) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) have received a consensus rating of “Buy” from the seven research firms that are currently covering the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $39.00.
A number of analysts have commented on the company. Maxim Group set a $43.00 price target on Coherus BioSciences and gave the stock a “buy” rating in a research report on Saturday, October 8th. Credit Suisse Group AG set a $38.00 price target on Coherus BioSciences and gave the stock a “buy” rating in a research report on Saturday, September 17th. Citigroup Inc. restated a “buy” rating and issued a $36.00 price target on shares of Coherus BioSciences in a research report on Monday, November 7th. Barclays PLC restated a “buy” rating and issued a $46.00 price target on shares of Coherus BioSciences in a research report on Thursday, August 11th. Finally, Zacks Investment Research cut Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Monday, August 15th.
In other news, insider Dennis M. Lanfear sold 4,060 shares of the company’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $31.75, for a total value of $128,905.00. Following the completion of the transaction, the insider now owns 71,635 shares of the company’s stock, valued at $2,274,411.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alan C. Herman sold 11,333 shares of the company’s 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 of the company’s stock, valued at approximately $4,153,739.03. The disclosure for this sale can be found here. 32.88% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its position in shares of Coherus BioSciences by 3.0% in the first quarter. BlackRock Fund Advisors now owns 1,120,135 shares of the company’s stock worth $23,780,000 after buying an additional 33,124 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Coherus BioSciences during the first quarter worth approximately $8,103,000. Bridger Management LLC purchased a new position in shares of Coherus BioSciences during the first quarter worth approximately $7,242,000. Iguana Healthcare Management LLC raised its position in shares of Coherus BioSciences by 29.2% in the first quarter. Iguana Healthcare Management LLC now owns 96,901 shares of the company’s stock worth $2,057,000 after buying an additional 21,901 shares during the last quarter. Finally, CAM Group Holding A S raised its position in shares of Coherus BioSciences by 1.7% in the second quarter. CAM Group Holding A S now owns 151,000 shares of the company’s stock worth $2,550,000 after buying an additional 2,500 shares during the last quarter. 58.98% of the stock is owned by hedge funds and other institutional investors.
Shares of Coherus BioSciences (NASDAQ:CHRS) traded down 1.58% during trading on Wednesday, hitting $28.05. The company had a trading volume of 146,635 shares. Coherus BioSciences has a 52 week low of $12.04 and a 52 week high of $31.98. The stock’s market capitalization is $1.22 billion. The firm’s 50 day moving average is $28.05 and its 200-day moving average is $24.41.
Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of ($1.56) by $3.23. The company earned $162.80 million during the quarter, compared to analysts’ expectations of $7.20 million. Coherus BioSciences had a negative return on equity of 1,583.92% and a negative net margin of 52.04%. During the same quarter in the prior year, the business earned ($1.86) earnings per share. Equities research analysts anticipate that Coherus BioSciences will post ($4.05) EPS for the current fiscal year.
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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