Coherus Biosciences (NASDAQ:CHRS) Releases Earnings Results, Beats Expectations By $0.40 EPS

Coherus Biosciences (NASDAQ:CHRS) released its earnings results on Thursday. The biotechnology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.40, Bloomberg Earnings reports. The company had revenue of $83.43 million for the quarter, compared to analysts’ expectations of $81.05 million.

NASDAQ CHRS traded up $2.99 during trading hours on Friday, hitting $20.02. 3,129,283 shares of the company’s stock traded hands, compared to its average volume of 1,080,613. Coherus Biosciences has a 52-week low of $8.32 and a 52-week high of $23.43. The company has a market cap of $1.17 billion, a P/E ratio of -6.22 and a beta of 3.10. The company’s 50-day moving average is $19.66.

In related news, COO Vincent R. Anicetti sold 2,500 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $19.20, for a total transaction of $48,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Healy sold 257,870 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 92 shares in the company, valued at $1,903.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,176,724 shares of company stock valued at $25,365,332. 18.20% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Chicago Equity Partners LLC acquired a new position in Coherus Biosciences in the 2nd quarter valued at about $302,000. Swiss National Bank boosted its holdings in Coherus Biosciences by 17.7% in the 2nd quarter. Swiss National Bank now owns 94,900 shares of the biotechnology company’s stock valued at $2,097,000 after purchasing an additional 14,300 shares during the last quarter. C WorldWide Group Holding A S boosted its holdings in Coherus Biosciences by 241.9% in the 2nd quarter. C WorldWide Group Holding A S now owns 678,464 shares of the biotechnology company’s stock valued at $14,994,000 after purchasing an additional 480,000 shares during the last quarter. Candriam Luxembourg S.C.A. acquired a new position in Coherus Biosciences in the 2nd quarter valued at about $1,430,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Coherus Biosciences by 300.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 85,400 shares of the biotechnology company’s stock valued at $1,835,000 after purchasing an additional 64,100 shares during the last quarter. Institutional investors own 99.13% of the company’s stock.

A number of analysts have recently commented on the stock. BidaskClub cut shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Robert W. Baird set a $28.00 price objective on shares of Coherus Biosciences and gave the company a “buy” rating in a research note on Wednesday, June 19th. Barclays set a $30.00 price objective on shares of Coherus Biosciences and gave the company a “buy” rating in a research note on Friday, June 21st. ValuEngine cut shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Zacks Investment Research raised shares of Coherus Biosciences from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Coherus Biosciences presently has a consensus rating of “Buy” and an average target price of $29.57.

About Coherus Biosciences

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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Earnings History for Coherus Biosciences (NASDAQ:CHRS)

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