Coherus BioSciences, Inc. (NASDAQ:CHRS) has been given an average recommendation of “Buy” by the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $34.70.
CHRS has been the subject of several recent research reports. Maxim Group dropped their target price on shares of Coherus BioSciences from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, June 12th. Citigroup Inc. set a $38.00 target price on shares of Coherus BioSciences and gave the company a “buy” rating in a research report on Wednesday, May 17th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Coherus BioSciences in a research report on Monday, June 12th. Credit Suisse Group set a $38.00 target price on shares of Coherus BioSciences and gave the company a “buy” rating in a research report on Monday, June 12th. Finally, Zacks Investment Research upgraded shares of Coherus BioSciences from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, August 15th.
Shares of Coherus BioSciences (NASDAQ:CHRS) traded down 2.54% during mid-day trading on Wednesday, hitting $13.45. The stock had a trading volume of 227,345 shares. The company has a 50 day moving average price of $13.06 and a 200 day moving average price of $18.81. Coherus BioSciences has a 12-month low of $10.80 and a 12-month high of $31.98. The firm’s market cap is $690.60 million.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Monday, August 7th. The biotechnology company reported ($1.08) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.21. The company had revenue of $1.40 million during the quarter. Coherus BioSciences had a negative net margin of 73.89% and a negative return on equity of 307.41%. Equities analysts forecast that Coherus BioSciences will post ($5.13) earnings per share for the current fiscal year.
In other news, insider Alan C. Herman sold 17,535 shares of the firm’s stock in a transaction that occurred 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 directly owns 49,651 shares of the company’s stock, valued at $745,758.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 32.88% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Coherus BioSciences by 17.2% in the first quarter. FMR LLC now owns 7,671,981 shares of the biotechnology company’s stock worth $162,262,000 after buying an additional 1,124,163 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Coherus BioSciences by 88.8% in the first quarter. Vanguard Group Inc. now owns 2,209,244 shares of the biotechnology company’s stock worth $46,726,000 after buying an additional 1,039,402 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Coherus BioSciences by 54.5% in the second quarter. UBS Asset Management Americas Inc. now owns 1,391,216 shares of the biotechnology company’s stock worth $19,964,000 after buying an additional 490,899 shares in the last quarter. JHL Capital Group LLC raised its stake in shares of Coherus BioSciences by 180.0% in the first quarter. JHL Capital Group LLC now owns 700,000 shares of the biotechnology company’s stock worth $14,805,000 after buying an additional 450,000 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Coherus BioSciences by 70.6% in the second quarter. TIAA CREF Investment Management LLC now owns 1,001,104 shares of the biotechnology company’s stock worth $14,366,000 after buying an additional 414,229 shares in the last quarter. 72.41% of the stock is currently owned by institutional investors and hedge funds.
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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