Analysts at Standpoint Research began coverage on shares of Coherus BioSciences Inc. (NASDAQ:CHRS) in a report issued on Friday, The Fly reports. The firm set a “buy” rating on the stock.
Several other research firms also recently weighed in on CHRS. Credit Suisse Group AG set a $38.00 price target on Coherus BioSciences and gave the stock a “buy” rating in a research note on Saturday, September 17th. Maxim Group assumed coverage on Coherus BioSciences in a research note on Wednesday, September 7th. They set a “buy” rating and a $43.00 price target for the company. Zacks Investment Research upgraded Coherus BioSciences from a “sell” rating to a “hold” rating in a research note on Wednesday, October 26th. Citigroup Inc. restated a “buy” rating and issued a $36.00 target price on shares of Coherus BioSciences in a research note on Monday, November 7th. Finally, Barclays PLC restated a “buy” rating and issued a $46.00 target price on shares of Coherus BioSciences in a research note on Thursday, August 11th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $37.00.
Coherus BioSciences (NASDAQ:CHRS) traded down 0.18% on Friday, hitting $28.05. The stock had a trading volume of 91,221 shares. The stock’s market capitalization is $1.22 billion. The company has a 50-day moving average price of $28.18 and a 200-day moving average price of $24.75. Coherus BioSciences has a 1-year low of $12.04 and a 1-year high of $31.98.
Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of ($1.56) by $3.23. The company earned $162.80 million during the quarter, compared to the consensus estimate of $7.20 million. Coherus BioSciences had a negative return on equity of 1,583.92% and a negative net margin of 52.04%. During the same quarter in the prior year, the company earned ($1.86) EPS. Equities analysts predict that Coherus BioSciences will post ($2.81) earnings per share for the current year.
In related news, insider Alan C. Herman sold 11,333 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $25.69, for a total transaction of $291,144.77. Following the transaction, the insider now directly owns 161,687 shares of the company’s stock, valued at approximately $4,153,739.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jean-Frederic Viret sold 3,900 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $29.88, for a total value of $116,532.00. Following the transaction, the chief financial officer now directly owns 6,225 shares in the company, valued at $186,003. The disclosure for this sale can be found here. Insiders own 32.88% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its position in shares of Coherus BioSciences by 3.0% in the first quarter. BlackRock Fund Advisors now owns 1,120,135 shares of the company’s stock worth $23,780,000 after buying an additional 33,124 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Coherus BioSciences during the first quarter worth $8,103,000. CAM Group Holding A S boosted its position in shares of Coherus BioSciences by 1.7% in the second quarter. CAM Group Holding A S now owns 151,000 shares of the company’s stock worth $2,550,000 after buying an additional 2,500 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Coherus BioSciences by 36.2% in the second quarter. Bank of New York Mellon Corp now owns 137,857 shares of the company’s stock worth $2,328,000 after buying an additional 36,650 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Coherus BioSciences by 23.8% in the second quarter. California State Teachers Retirement System now owns 61,840 shares of the company’s stock worth $1,044,000 after buying an additional 11,902 shares in the last quarter. 57.55% of the stock is currently owned by institutional investors.
About Coherus BioSciences
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.