Shares of Coherus Biosciences Inc (NASDAQ:CHRS) have been given a consensus recommendation of “Buy” by the eight research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $25.17.
A number of equities research analysts have issued reports on the company. ValuEngine raised Coherus Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Zacks Investment Research raised Coherus Biosciences from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, June 19th. BidaskClub raised Coherus Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Finally, Maxim Group increased their price objective on Coherus Biosciences from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 11th.
Coherus Biosciences traded down $0.30, reaching $15.10, during trading hours on Tuesday, Marketbeat reports. 570,046 shares of the company were exchanged, compared to its average volume of 773,588. The stock has a market capitalization of $1.05 billion, a P/E ratio of -3.37 and a beta of 3.48. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of -33.10. Coherus Biosciences has a 12 month low of $8.05 and a 12 month high of $17.80.
Coherus Biosciences (NASDAQ:CHRS) last announced its earnings results on Thursday, May 10th. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.04). sell-side analysts anticipate that Coherus Biosciences will post -2.91 earnings per share for the current year.
In other news, insider Barbara K. Finck sold 1,760 shares of the stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $15.00, for a total value of $26,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dennis M. Lanfear sold 20,984 shares of the stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $16.26, for a total value of $341,199.84. Following the completion of the sale, the insider now directly owns 92,619 shares of the company’s stock, valued at $1,505,984.94. The disclosure for this sale can be found here. 19.57% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Coherus Biosciences by 4.2% in the first quarter. BlackRock Inc. now owns 3,333,724 shares of the biotechnology company’s stock valued at $36,837,000 after acquiring an additional 134,998 shares during the period. Sofinnova Ventures Inc bought a new position in Coherus Biosciences in the first quarter worth $31,970,000. JPMorgan Chase & Co. lifted its position in Coherus Biosciences by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 2,045,068 shares of the biotechnology company’s stock worth $22,598,000 after purchasing an additional 143,074 shares during the period. Citadel Advisors LLC lifted its position in Coherus Biosciences by 819.9% in the fourth quarter. Citadel Advisors LLC now owns 1,772,241 shares of the biotechnology company’s stock worth $15,595,000 after purchasing an additional 1,579,582 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its position in Coherus Biosciences by 5.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,393,661 shares of the biotechnology company’s stock worth $12,264,000 after purchasing an additional 72,710 shares during the period. 89.82% of the stock is owned by institutional investors.
Coherus Biosciences Company Profile
Coherus BioSciences, Inc, a biosimilar company, develops and commercializes various therapeutic products worldwide. The company engages in the development of late-stage clinical products, including CHS-1701 pegfilgrastim biosimilar, a granulocyte colony-stimulating factor product candidate; CHS-1420 adalimumab biosimilar, an anti-tumor necrosis factor product candidate; and CHS-0214, an etanercept biosimilar for rheumatoid arthritis and psoriasis.
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