Trade Report: Today: Coherus BioSciences Inc. (CHRS) Receives New Coverage from Analysts at Standpoint Research

Today: Coherus BioSciences Inc. (CHRS) Receives New Coverage from Analysts at Standpoint Research

Standpoint Research began coverage on shares of Coherus BioSciences Inc. (NASDAQ:CHRS) in a research report report published on Friday morning. The firm issued a buy rating and a $40.00 target price on the stock.

Several other brokerages also recently issued reports on CHRS. Zacks Investment Research upgraded Coherus BioSciences from a sell rating to a hold rating in a report on Wednesday, October 26th. Maxim Group initiated coverage on Coherus BioSciences in a report on Wednesday, September 7th. They issued a buy rating and a $43.00 price target for the company. Barclays PLC restated an overweight rating and issued a $46.00 price target on shares of Coherus BioSciences in a report on Tuesday, October 4th. Credit Suisse Group AG restated a buy rating and issued a $38.00 price target on shares of Coherus BioSciences in a report on Wednesday, September 28th. Finally, Robert W. Baird initiated coverage on Coherus BioSciences in a report on Tuesday, October 18th. They issued an outperform rating and a $40.00 price target for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Coherus BioSciences has an average rating of Buy and a consensus target price of $37.38.

Shares of Coherus BioSciences (NASDAQ:CHRS) opened at 28.05 on Friday. The company has a 50-day moving average price of $28.33 and a 200 day moving average price of $24.81. The firm’s market capitalization is $1.22 billion. Coherus BioSciences has a 12-month low of $12.04 and a 12-month high of $31.98.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings data on Wednesday, November 9th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of ($1.56) by $3.23. The business 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 posted ($1.86) earnings per share. Equities research analysts expect that Coherus BioSciences will post ($2.64) earnings per share for the current fiscal year.

In related news, CFO Jean-Frederic Viret sold 3,900 shares of the stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $29.88, for a total transaction of $116,532.00. Following the completion of the transaction, the chief financial officer now directly owns 6,225 shares of the company’s stock, valued at $186,003. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dennis M. Lanfear sold 4,060 shares of the stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $31.75, for a total value of $128,905.00. Following the transaction, the insider now directly owns 71,635 shares of the company’s stock, valued at $2,274,411.25. The disclosure for this sale can be found here. Corporate insiders own 32.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System bought a new position in shares of Coherus BioSciences during the second quarter valued at approximately $241,000. DekaBank Deutsche Girozentrale boosted its position in shares of Coherus BioSciences by 34.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 22,400 shares of the company’s stock valued at $376,000 after buying an additional 5,700 shares during the period. Jennison Associates LLC bought a new position in shares of Coherus BioSciences during the second quarter valued at approximately $228,000. Emerald Acquisition Ltd. bought a new position in shares of Coherus BioSciences during the second quarter valued at approximately $253,000. Finally, Swiss National Bank boosted its position in shares of Coherus BioSciences by 29.5% in the second quarter. Swiss National Bank now owns 37,300 shares of the company’s stock valued at $630,000 after buying an additional 8,500 shares during the period. 64.47% of the stock is owned by hedge funds and other institutional investors.

Coherus BioSciences Company Profile

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