The Coherus BioSciences Inc. (CHRS) Given Consensus Rating of “Buy” by Analysts

The Coherus BioSciences Inc. (CHRS) Given Consensus Rating of “Buy” by Analysts

Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) have earned an average rating of “Buy” from the six brokerages that are presently covering the stock. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $39.60.

Several equities research analysts have weighed in on the company. Maxim Group set a $43.00 target price on Coherus BioSciences and gave the stock a “buy” rating in a research report on Saturday. Credit Suisse Group AG set a $38.00 target price on Coherus BioSciences and gave the stock a “buy” rating in a research report on Saturday, September 17th. Zacks Investment Research raised Coherus BioSciences from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Citigroup Inc. assumed coverage on Coherus BioSciences in a research report on Wednesday, July 27th. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $46.00 target price on shares of Coherus BioSciences in a research report on Thursday, August 11th.

In other news, insider Peter K. Watler sold 73,741 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,844,999.82. Following the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at $1,251,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan C. Herman sold 11,333 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $25.69, for a total value of $291,144.77. Following the transaction, the insider now directly owns 161,687 shares in the company, valued at $4,153,739.03. The disclosure for this sale can be found here. Insiders own 32.88% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CHRS. BlackRock Inc. boosted its position in shares of 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 purchased a new position in shares of Coherus BioSciences during the second quarter valued at $226,000. Jennison Associates LLC purchased a new position in shares of Coherus BioSciences during the second quarter valued at $228,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Coherus BioSciences during the second quarter valued at $241,000. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Coherus BioSciences during the second quarter valued at $253,000. 58.37% of the stock is currently owned by institutional investors.

Coherus BioSciences (NASDAQ:CHRS) traded down 3.23% during midday trading on Wednesday, hitting $27.60. 108,745 shares of the company traded hands. Coherus BioSciences has a 12-month low of $12.04 and a 12-month high of $31.98. The stock has a 50 day moving average of $29.21 and a 200 day moving average of $23.11. The stock’s market cap is $1.20 billion.

Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($1.72) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.40. Coherus BioSciences had a negative return on equity of 1,583.92% and a negative net margin of 591.61%. The firm had revenue of $14.07 million for the quarter, compared to the consensus estimate of $6.87 million. Equities research analysts predict that Coherus BioSciences will post ($6.22) EPS for the current fiscal year.

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