Coherus Biosciences Inc (NASDAQ:CHRS) COO Vincent R. Anicetti sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $19.20, for a total transaction of $48,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of CHRS traded down $0.74 during mid-day trading on Wednesday, hitting $17.78. 507,646 shares of the company traded hands, compared to its average volume of 929,910. Coherus Biosciences Inc has a one year low of $8.32 and a one year high of $23.43. The business has a 50-day simple moving average of $20.00. The stock has a market capitalization of $1.28 billion, a PE ratio of -5.64 and a beta of 3.12.
Coherus Biosciences (NASDAQ:CHRS) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.16. The company had revenue of $37.10 million for the quarter, compared to the consensus estimate of $36.83 million. On average, research analysts anticipate that Coherus Biosciences Inc will post -0.46 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CHRS. Legal & General Group Plc boosted its stake in Coherus Biosciences by 12.3% in the fourth quarter. Legal & General Group Plc now owns 9,095 shares of the biotechnology company’s stock valued at $82,000 after acquiring an additional 998 shares during the last quarter. SG Americas Securities LLC bought a new position in Coherus Biosciences in the first quarter valued at approximately $108,000. BNP Paribas Arbitrage SA boosted its stake in Coherus Biosciences by 107,870.0% in the first quarter. BNP Paribas Arbitrage SA now owns 10,797 shares of the biotechnology company’s stock valued at $147,000 after acquiring an additional 10,787 shares during the last quarter. Ellis Investment Partners LLC bought a new position in Coherus Biosciences in the first quarter valued at approximately $155,000. Finally, Xact Kapitalforvaltning AB bought a new position in Coherus Biosciences in the second quarter valued at approximately $225,000. 99.18% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of from GBX 200 ($2.61) to GBX 210 ($2.74) and gave the stock an “equal weight” rating in a report on Friday, June 21st. BidaskClub cut shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Monday, June 24th. Maxim Group reissued a “buy” rating and set a $25.00 price target on shares of Coherus Biosciences in a research note on Wednesday, July 10th. Robert W. Baird set a $28.00 price target on shares of Coherus Biosciences and gave the company a “buy” rating in a research note on Wednesday, June 19th. Finally, HC Wainwright increased their price target on shares of Applied Genetic Technologies from $5.75 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $29.14.
Coherus Biosciences Company Profile
Coherus BioSciences, Inc, a commercial-stage biotherapeutics company, focuses on the biosimilar market worldwide. It markets UDENYCA, a long-acting granulocyte-colony stimulating factor, which stimulates production of granulocytes in order to promote the body's ability to fight infections. The company sells UDENYCA in the United States.
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