Coherus Biosciences (NASDAQ:CHRS) was upgraded by TheStreet from a “d-” rating to a “c-” rating in a note issued to investors on Thursday, TheStreetRatingsTable reports.
A number of other equities analysts also recently issued reports on CHRS. Zacks Investment Research raised shares of Coherus Biosciences from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Thursday. Barclays set a $31.00 price objective on shares of Coherus Biosciences and gave the stock a “buy” rating in a report on Monday, August 12th. Citigroup boosted their price target on shares of Coherus Biosciences from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday. BidaskClub downgraded shares of Coherus Biosciences from a “hold” rating to a “sell” rating in a report on Wednesday, October 16th. Finally, Mizuho set a $43.00 price target on shares of Coherus Biosciences and gave the stock a “buy” rating in a report on Sunday, September 29th. Two analysts have rated the stock with a sell rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $30.38.
Coherus Biosciences stock traded up $0.06 during mid-day trading on Thursday, hitting $19.06. 1,353,200 shares of the stock were exchanged, compared to its average volume of 992,812. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -5.92 and a beta of 2.90. The firm’s fifty day simple moving average is $19.20 and its two-hundred day simple moving average is $19.18. Coherus Biosciences has a 12 month low of $8.32 and a 12 month high of $23.91.
Coherus Biosciences (NASDAQ:CHRS) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.27. The firm had revenue of $111.68 million for the quarter, compared to analysts’ expectations of $93.58 million. On average, analysts forecast that Coherus Biosciences will post 0.89 earnings per share for the current year.
In related news, CFO Jean-Frederic Viret sold 6,318 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $21.71, for a total value of $137,163.78. Following the sale, the chief financial officer now directly owns 14,831 shares in the company, valued at approximately $321,981.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Vincent R. Anicetti sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $19.00, for a total value of $47,500.00. The disclosure for this sale can be found here. Insiders sold a total of 25,264 shares of company stock worth $504,967 over the last three months. 18.20% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Coherus Biosciences by 10.6% in the 2nd quarter. BlackRock Inc. now owns 5,037,431 shares of the biotechnology company’s stock valued at $111,327,000 after acquiring an additional 483,541 shares during the period. Vanguard Group Inc. raised its stake in Coherus Biosciences by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,958,583 shares of the biotechnology company’s stock valued at $65,384,000 after acquiring an additional 87,091 shares during the period. Rock Springs Capital Management LP raised its stake in Coherus Biosciences by 180.6% in the 2nd quarter. Rock Springs Capital Management LP now owns 1,880,000 shares of the biotechnology company’s stock valued at $41,548,000 after acquiring an additional 1,210,000 shares during the period. Nuveen Asset Management LLC bought a new stake in Coherus Biosciences in the 2nd quarter valued at about $25,695,000. Finally, C WorldWide Group Holding A S raised its stake in Coherus Biosciences by 19.2% in the 3rd quarter. C WorldWide Group Holding A S now owns 808,464 shares of the biotechnology company’s stock valued at $16,379,000 after acquiring an additional 130,000 shares during the period. Institutional investors and hedge funds own 96.37% of the company’s stock.
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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