Coherus BioSciences, Inc. (NASDAQ:CHRS) Reaches New 1-Year Low at $12.80

Coherus BioSciences, Inc. (NASDAQ:CHRS)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $12.80 and last traded at $12.78, with a volume of 160,874 shares. The stock had previously closed at $13.05.

A number of research firms recently issued reports on CHRS. Maxim Group set a $43.00 price target on Coherus BioSciences and gave the stock a “buy” rating in a report on Monday, May 15th. BMO Capital Markets reissued an “outperform” rating and set a $54.00 price target on shares of Coherus BioSciences in a report on Monday, May 15th. Barclays PLC reissued an “overweight” rating and set a $46.00 price target on shares of Coherus BioSciences in a report on Sunday, May 21st. Citigroup Inc. set a $38.00 price target on Coherus BioSciences and gave the stock 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, June 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $37.11.

The firm’s market cap is $671.87 million. The firm’s 50 day moving average price is $14.36 and its 200 day moving average price is $20.34.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings data on Monday, May 8th. The biotechnology company reported ($1.54) earnings per share for the quarter, hitting the consensus estimate of ($1.54). The firm had revenue of $0.16 million for the quarter. Coherus BioSciences had a negative net margin of 76.85% and a negative return on equity of 827.65%. On average, equities research analysts forecast that Coherus BioSciences, Inc. will post ($5.13) earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its stake in Coherus BioSciences by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 14,589 shares of the biotechnology company’s stock valued at $411,000 after buying an additional 130 shares during the period. Nationwide Fund Advisors raised its stake in Coherus BioSciences by 1.3% in the first quarter. Nationwide Fund Advisors now owns 33,982 shares of the biotechnology company’s stock valued at $719,000 after buying an additional 421 shares during the period. Legal & General Group Plc raised its stake in Coherus BioSciences by 15.9% in the first quarter. Legal & General Group Plc now owns 8,295 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 1,137 shares during the period. Pictet Asset Management Ltd. raised its stake in shares of Coherus BioSciences by 0.3% in the first quarter. Pictet Asset Management Ltd. now owns 441,788 shares of the biotechnology company’s stock valued at $9,344,000 after buying an additional 1,432 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Coherus BioSciences by 1.6% in the fourth quarter. Teachers Advisors LLC now owns 147,753 shares of the biotechnology company’s stock valued at $4,159,000 after buying an additional 2,374 shares during the last quarter. Hedge funds and other institutional investors own 73.35% of the company’s stock.

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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.