Bank of New York Mellon Corp Buys 4,700 Shares of Coherus BioSciences, Inc. (CHRS)
Bank of New York Mellon Corp grew its stake in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 169,840 shares of the biotechnology company’s stock after acquiring an additional 4,700 shares during the period. Bank of New York Mellon Corp owned 0.33% of Coherus BioSciences worth $2,437,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CHRS. SG Americas Securities LLC lifted its position in shares of Coherus BioSciences by 32.7% during the second quarter. SG Americas Securities LLC now owns 7,244 shares of the biotechnology company’s stock worth $104,000 after acquiring an additional 1,785 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Coherus BioSciences by 15.9% during the first quarter. Legal & General Group Plc now owns 8,295 shares of the biotechnology company’s stock worth $173,000 after acquiring an additional 1,137 shares in the last quarter. Boston Advisors LLC purchased a new stake in shares of Coherus BioSciences during the second quarter worth $244,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Coherus BioSciences during the first quarter worth $246,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Coherus BioSciences during the first quarter worth $349,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.
In related news, insider Alan C. Herman sold 17,535 shares of Coherus BioSciences stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $15.02, for a total transaction of $263,375.70. Following the transaction, the insider now owns 49,651 shares in the company, valued at approximately $745,758.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 26.28% of the stock is currently owned by insiders.
Several equities research analysts have issued reports on CHRS shares. Maxim Group restated a “buy” rating and set a $20.00 target price (down previously from $40.00) on shares of Coherus BioSciences in a research report on Friday, September 8th. Zacks Investment Research upgraded Coherus BioSciences from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, August 15th. Cowen and Company restated an “outperform” rating and set a $45.00 target price on shares of Coherus BioSciences in a research report on Friday, September 8th. Credit Suisse Group restated an “outperform” rating and set a $17.00 target price (down previously from $24.00) on shares of Coherus BioSciences in a research report on Wednesday, September 27th. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $25.00 target price (down previously from $32.00) on shares of Coherus BioSciences in a research report on Tuesday, August 8th. Three analysts have rated the stock with a sell rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $32.00.
Shares of Coherus BioSciences, Inc. (CHRS) opened at 14.15 on Friday. The stock’s market cap is $726.55 million. Coherus BioSciences, Inc. has a 12 month low of $10.80 and a 12 month high of $31.48. The company has a 50 day moving average price of $13.53 and a 200-day moving average price of $16.19.
Coherus BioSciences (NASDAQ:CHRS) last released its earnings results on Monday, August 7th. The biotechnology company reported ($1.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.21. Coherus BioSciences had a negative net margin of 73.89% and a negative return on equity of 307.41%. The company had revenue of $1.40 million for the quarter. On average, equities research analysts predict that Coherus BioSciences, Inc. will post ($5.13) earnings per share for the current year.
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About Coherus BioSciences
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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