Coherus BioSciences Inc. (NASDAQ:CHRS) insider Dennis M. Lanfear sold 4,060 shares of Coherus BioSciences stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $31.75, for a total transaction of $128,905.00. Following the sale, the insider now directly owns 71,635 shares in the company, valued at approximately $2,274,411.25. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Coherus BioSciences Inc. (NASDAQ:CHRS) opened at 30.88 on Friday. The stock’s market capitalization is $1.34 billion. Coherus BioSciences Inc. has a one year low of $12.04 and a one year high of $31.98. The firm has a 50-day moving average of $29.98 and a 200 day moving average of $22.31.
Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($1.72) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.40. The company earned $14.07 million during the quarter, compared to analysts’ expectations of $6.87 million. Coherus BioSciences had a negative return on equity of 1,583.92% and a negative net margin of 591.61%. On average, equities research analysts anticipate that Coherus BioSciences Inc. will post ($6.19) earnings per share for the current fiscal year.
Several research firms recently commented on CHRS. Credit Suisse Group AG set a $38.00 price objective on shares of Coherus BioSciences and gave the stock a “buy” rating in a research note on Saturday, September 17th. Maxim Group began coverage on shares of Coherus BioSciences in a research note on Wednesday, September 7th. They set a “buy” rating and a $43.00 price objective on the stock. Barclays PLC reissued a “buy” rating and set a $46.00 price objective on shares of Coherus BioSciences in a research note on Thursday, August 11th. Citigroup Inc. began coverage on shares of Coherus BioSciences in a research note on Wednesday, July 27th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Coherus BioSciences from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $36.50.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position 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 in the last quarter. Bourgeon Capital Management LLC bought a new position in Coherus BioSciences during the second quarter valued at approximately $226,000. Jennison Associates LLC bought a new position in Coherus BioSciences during the second quarter valued at approximately $228,000. State Board of Administration of Florida Retirement System bought a new position in Coherus BioSciences during the second quarter valued at approximately $241,000. Finally, Emerald Acquisition Ltd. bought a new position in Coherus BioSciences during the second quarter valued at approximately $253,000. 58.37% of the stock is currently owned by institutional investors.
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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