Coherus Biosciences Inc (NASDAQ:CHRS) was up 1% on Monday after Citigroup raised their price target on the stock from $23.00 to $25.00. Citigroup currently has a buy rating on the stock. Coherus Biosciences traded as high as $13.35 and last traded at $11.97. Approximately 659,711 shares traded hands during trading, a decline of 17% from the average daily volume of 791,437 shares. The stock had previously closed at $11.85.
A number of other equities research analysts have also weighed in on CHRS. ValuEngine lowered shares of Coherus Biosciences from a “sell” rating to a “strong sell” rating in a report on Friday, November 10th. BidaskClub raised shares of Coherus Biosciences from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Zacks Investment Research raised shares of Coherus Biosciences from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Wednesday, January 3rd. Finally, Maxim Group reaffirmed a “buy” rating and set a $15.00 price target (down from $20.00) on shares of Coherus Biosciences in a report on Friday, March 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $29.33.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. boosted its stake in Coherus Biosciences by 36.7% during the 4th quarter. Macquarie Group Ltd. now owns 396,300 shares of the biotechnology company’s stock valued at $3,487,000 after acquiring an additional 106,300 shares during the last quarter. Millennium Management LLC boosted its stake in Coherus Biosciences by 543.6% during the 4th quarter. Millennium Management LLC now owns 695,286 shares of the biotechnology company’s stock valued at $6,119,000 after acquiring an additional 587,248 shares during the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in Coherus Biosciences by 34.1% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 35,762 shares of the biotechnology company’s stock valued at $314,000 after acquiring an additional 9,100 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Coherus Biosciences by 1.2% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,042,995 shares of the biotechnology company’s stock valued at $9,178,000 after acquiring an additional 12,313 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in Coherus Biosciences by 14.9% during the 4th quarter. Teachers Advisors LLC now owns 97,494 shares of the biotechnology company’s stock valued at $858,000 after acquiring an additional 12,619 shares during the last quarter. Hedge funds and other institutional investors own 82.70% of the company’s stock.
The company has a current ratio of 5.12, a quick ratio of 5.12 and a debt-to-equity ratio of 3.33. The firm has a market capitalization of $786.67, a P/E ratio of -2.74 and a beta of 3.62.
Coherus Biosciences (NASDAQ:CHRS) last posted its quarterly earnings data on Thursday, March 8th. The biotechnology company reported ($0.84) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.86) by $0.02. Coherus Biosciences had a negative net margin of 73.89% and a negative return on equity of 493.03%. research analysts forecast that Coherus Biosciences Inc will post -2.9 earnings per share for the current fiscal year.
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About Coherus Biosciences
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is engaged in the business of developing and commercializing biosimilar products. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta) and bevacizumab (Avastin); Immunology (Anti-TNF) biosimilar candidates etanercept (Enbrel) and adalimumab (Humira); Ophthalmology biosimilar candidate ranibizumab (Lucentis), and Multiple sclerosis small molecule therapeutic candidate, CHS-131.
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