Research analysts at Standpoint Research assumed 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 have also recently weighed in on CHRS. Citigroup Inc. restated a “buy” rating and set a $36.00 price target on shares of Coherus BioSciences in a report on Monday, November 7th. Credit Suisse Group AG set a $38.00 price target on Coherus BioSciences and gave the stock a “buy” rating in a report on Saturday, September 17th. Maxim Group set a $43.00 price target on Coherus BioSciences and gave the stock a “buy” rating in a report on Saturday, October 8th. Robert W. Baird started coverage on Coherus BioSciences in a report on Tuesday, October 18th. They set an “outperform” rating and a $40.00 price target on the stock. Finally, Barclays PLC restated a “buy” rating and set a $46.00 price target on shares of Coherus BioSciences in a report on Thursday, August 11th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.00.
Shares of Coherus BioSciences (NASDAQ:CHRS) traded down 0.270% during mid-day trading on Friday, reaching $28.024. 82,446 shares of the company’s stock traded hands. Coherus BioSciences has a 12 month low of $12.04 and a 12 month high of $31.98. The company has a 50 day moving average of $28.18 and a 200 day moving average of $24.75. The company’s market cap is $1.22 billion.
Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings results on Wednesday, November 9th. The company reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.56) by $3.23. The company had revenue of $162.80 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted ($1.86) earnings per share. Analysts expect that Coherus BioSciences will post ($2.81) earnings per share for the current fiscal year.
In other Coherus BioSciences news, insider Dennis M. Lanfear sold 2,900 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $31.79, for a total value of $92,191.00. Following the transaction, the insider now directly owns 71,635 shares of the company’s stock, valued at $2,277,276.65. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alan C. Herman sold 11,333 shares of the business’s stock in a transaction that occurred 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 completion of 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. 32.88% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Oxford Asset Management acquired a new position in shares of Coherus BioSciences during the second quarter valued at about $729,000. Columbus Circle Investors raised its position in shares of Coherus BioSciences by 70.3% in the second quarter. Columbus Circle Investors now owns 373,249 shares of the company’s stock valued at $6,304,000 after buying an additional 154,086 shares during the period. Jennison Associates LLC acquired a new position in shares of Coherus BioSciences during the second quarter valued at about $228,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Coherus BioSciences during the second quarter valued at about $241,000. Finally, Bank of New York Mellon Corp raised 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 valued at $2,328,000 after buying an additional 36,650 shares during the period. 57.55% of the stock is currently owned by hedge funds and other 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.