Coherus BioSciences, Inc. (CHRS) Rating Reiterated by Cowen and Company
Cowen and Company restated their outperform rating on shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) in a research report released on Friday. The brokerage currently has a $45.00 price objective on the biotechnology company’s stock.
Several other research firms have also issued reports on CHRS. BidaskClub lowered Coherus BioSciences from a sell rating to a strong sell rating in a report on Saturday, August 5th. Zacks Investment Research raised Coherus BioSciences from a hold rating to a buy rating and set a $14.00 price target for the company in a report on Tuesday, August 15th. Maxim Group set a $43.00 price target on Coherus BioSciences and gave the company a buy rating in a report on Monday, May 15th. Citigroup Inc. set a $38.00 price target on Coherus BioSciences and gave the company a buy rating in a report on Wednesday, May 17th. Finally, ValuEngine raised Coherus BioSciences from a strong sell rating to a sell rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $32.70.
Shares of Coherus BioSciences (NASDAQ CHRS) opened at 12.30 on Friday. The stock’s market cap is $631.56 million. Coherus BioSciences has a one year low of $10.80 and a one year high of $31.98. The company’s 50-day moving average price is $13.15 and its 200-day moving average price is $17.85.
Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.29) by $0.21. Coherus BioSciences had a negative return on equity of 307.41% and a negative net margin of 73.89%. The business had revenue of $1.40 million during the quarter. Equities research analysts anticipate that Coherus BioSciences will post ($5.13) earnings per share for the current year.
In other news, insider Alan C. Herman sold 17,535 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $15.02, for a total value of $263,375.70. Following the transaction, the insider now directly owns 49,651 shares in the company, valued at $745,758.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 26.28% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. BlueCrest Capital Management Ltd purchased a new position in shares of Coherus BioSciences in the first quarter valued at about $246,000. Trexquant Investment LP purchased a new position in shares of Coherus BioSciences in the first quarter valued at about $319,000. Bank of America Corp DE lifted its position in shares of Coherus BioSciences by 171.0% in the first quarter. Bank of America Corp DE now owns 18,308 shares of the biotechnology company’s stock valued at $387,000 after acquiring an additional 11,553 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Coherus BioSciences in the first quarter valued at about $1,331,000. Finally, Swiss National Bank lifted its position in shares of Coherus BioSciences by 39.9% in the first quarter. Swiss National Bank now owns 52,200 shares of the biotechnology company’s stock valued at $1,104,000 after acquiring an additional 14,900 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.
Coherus BioSciences Company Profile
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is engaged in the business of developing and commercializing biosimilar products. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta) and bevacizumab (Avastin); Immunology (Anti-TNF) biosimilar candidates etanercept (Enbrel) and adalimumab (Humira); Ophthalmology biosimilar candidate ranibizumab (Lucentis), and Multiple sclerosis small molecule therapeutic candidate, CHS-131.
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