Robert W. Baird set a $28.00 target price on Coherus Biosciences (NASDAQ:CHRS) in a report published on Wednesday, TipRanks reports. The brokerage currently has a buy rating on the biotechnology company’s stock.
Other analysts also recently issued research reports about the stock. Maxim Group reissued a buy rating and issued a $25.00 price objective on shares of Coherus Biosciences in a research note on Monday, April 8th. ValuEngine raised shares of Coherus Biosciences from a hold rating to a buy rating in a research note on Friday, May 10th. HC Wainwright initiated coverage on shares of Coherus Biosciences in a research note on Tuesday, May 7th. They issued a buy rating and a $28.00 price objective for the company. Credit Suisse Group set a $25.00 price objective on shares of Coherus Biosciences and gave the stock a buy rating in a research note on Thursday, March 7th. Finally, BidaskClub raised shares of Coherus Biosciences from a hold rating to a buy rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Coherus Biosciences presently has a consensus rating of Buy and a consensus price target of $28.57.
Shares of NASDAQ:CHRS traded up $0.99 during trading on Wednesday, reaching $21.66. The company’s stock had a trading volume of 1,401,296 shares, compared to its average volume of 862,920. The company has a current ratio of 3.84, a quick ratio of 3.79 and a debt-to-equity ratio of 8.29. Coherus Biosciences has a 12 month low of $8.32 and a 12 month high of $21.18. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -6.73 and a beta of 3.17.
Coherus Biosciences (NASDAQ:CHRS) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.29) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.16. The business had revenue of $37.10 million during the quarter, compared to the consensus estimate of $36.83 million. As a group, equities analysts forecast that Coherus Biosciences will post -0.8 EPS for the current year.
In other news, Director James Healy sold 257,870 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $20.69, for a total transaction of $5,335,330.30. Following the transaction, the director now directly owns 92 shares of the company’s stock, valued at $1,903.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Dennis M. Lanfear sold 32,398 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $19.49, for a total transaction of $631,437.02. Following the transaction, the chief executive officer now directly owns 125,017 shares in the company, valued at $2,436,581.33. The disclosure for this sale can be found here. Company insiders own 18.20% of the company’s stock.
Several large investors have recently modified their holdings of CHRS. Deutsche Bank AG increased its position in shares of Coherus Biosciences by 30.4% during the fourth quarter. Deutsche Bank AG now owns 2,382,438 shares of the biotechnology company’s stock worth $21,559,000 after acquiring an additional 555,972 shares during the period. Sivik Global Healthcare LLC purchased a new position in Coherus Biosciences during the first quarter valued at approximately $3,069,000. Pura Vida Investments LLC purchased a new position in Coherus Biosciences during the fourth quarter valued at approximately $1,910,000. Atika Capital Management LLC purchased a new position in Coherus Biosciences during the first quarter valued at approximately $2,564,000. Finally, Tekla Capital Management LLC increased its holdings in Coherus Biosciences by 110.4% during the fourth quarter. Tekla Capital Management LLC now owns 315,162 shares of the biotechnology company’s stock valued at $2,852,000 after buying an additional 165,342 shares during the period. 99.18% of the stock is currently owned by institutional investors and hedge funds.
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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