Wall Street brokerages expect Coherus Biosciences Inc (NASDAQ:CHRS) to announce sales of $117.04 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Coherus Biosciences’ earnings. The lowest sales estimate is $103.60 million and the highest is $129.79 million. The business is scheduled to announce its next earnings results on Thursday, February 27th.
According to Zacks, analysts expect that Coherus Biosciences will report full-year sales of $341.84 million for the current year, with estimates ranging from $315.40 million to $362.00 million. For the next year, analysts forecast that the business will report sales of $426.39 million, with estimates ranging from $387.10 million to $454.69 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Coherus Biosciences.
Coherus Biosciences (NASDAQ:CHRS) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.27. The business had revenue of $111.68 million during the quarter, compared to analysts’ expectations of $93.58 million.
Several analysts have recently weighed in on CHRS shares. Citigroup lifted their target price on shares of Coherus Biosciences from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday. TheStreet raised shares of Coherus Biosciences from a “d-” rating to a “c-” rating in a report on Thursday. ValuEngine downgraded shares of Coherus Biosciences from a “sell” rating to a “strong sell” rating in a report on Thursday, October 10th. Maxim Group reaffirmed a “buy” rating and issued a $27.00 target price (up previously from $25.00) on shares of Coherus Biosciences in a report on Friday, August 2nd. Finally, BidaskClub downgraded shares of Coherus Biosciences from a “hold” rating to a “sell” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $30.38.
Shares of CHRS traded up $0.06 during midday trading on Thursday, reaching $19.06. The stock had a trading volume of 1,353,200 shares, compared to its average volume of 992,812. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -5.92 and a beta of 2.90. The company’s fifty day simple moving average is $19.20 and its two-hundred day simple moving average is $19.18. Coherus Biosciences has a 1-year low of $8.32 and a 1-year high of $23.91.
In related news, CFO Jean-Frederic Viret sold 6,318 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $21.71, for a total transaction of $137,163.78. Following the sale, the chief financial officer now owns 14,831 shares of the company’s stock, valued at $321,981.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Vincent R. Anicetti sold 2,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $20.03, for a total transaction of $50,075.00. Following the sale, the chief operating officer now directly owns 21,810 shares in the company, valued at approximately $436,854.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,264 shares of company stock worth $504,967. 18.20% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its position in Coherus Biosciences by 6.4% during the second quarter. HighTower Advisors LLC now owns 12,184 shares of the biotechnology company’s stock worth $268,000 after acquiring an additional 734 shares during the last quarter. Cutler Group LP acquired a new position in Coherus Biosciences during the third quarter worth about $32,000. United Services Automobile Association raised its position in Coherus Biosciences by 0.9% during the second quarter. United Services Automobile Association now owns 217,216 shares of the biotechnology company’s stock worth $4,800,000 after acquiring an additional 1,950 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Coherus Biosciences during the third quarter worth about $52,000. Finally, Brown Advisory Inc. raised its position in Coherus Biosciences by 0.5% during the second quarter. Brown Advisory Inc. now owns 656,455 shares of the biotechnology company’s stock worth $14,508,000 after acquiring an additional 3,061 shares during the last quarter. 96.37% of the stock is currently owned by hedge funds and other institutional investors.
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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