Zacks Investment Research lowered shares of Coherus Biosciences (NASDAQ:CHRS) from a buy rating to a hold rating in a report published on Friday morning, Zacks.com reports.
According to Zacks, “Coherus Biosciences, Inc. is a biologics platform company developing biosimilar therapeutics. Its clinical stage pipeline consists of CHS-0214 in two Phase III clinical trials for the treatment of rheumatoid arthritis and psoriasis; CHS-1420 that has completed a Phase I study to treat psoriasis or rheumatoid arthritis; and CHS-1701 which has completed a Phase I study for the treatment of breast cancer patients. Coherus Biosciences, Inc. is headquartered in Redwood City, California. “
Several other equities analysts have also issued reports on the stock. Credit Suisse Group reaffirmed a buy rating and issued a $36.00 price target on shares of Coherus Biosciences in a report on Thursday, March 5th. BidaskClub downgraded Coherus Biosciences from a sell rating to a strong sell rating in a research note on Tuesday, June 16th. Maxim Group began coverage on Coherus Biosciences in a research report on Saturday, May 9th. They set a buy rating and a $27.00 target price on the stock. SunTrust Banks began coverage on Coherus Biosciences in a report on Friday, April 17th. They issued a buy rating and a $26.00 price target for the company. Finally, HC Wainwright restated a buy rating and set a $30.00 price target on shares of Coherus Biosciences in a research note on Friday, May 8th. Two investment analysts have rated the stock with a sell rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $30.88.
Shares of CHRS stock opened at $17.25 on Friday. The stock’s 50-day moving average is $17.46 and its 200 day moving average is $17.77. Coherus Biosciences has a 1-year low of $10.86 and a 1-year high of $23.91. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.32 and a quick ratio of 3.18. The company has a market cap of $1.22 billion, a P/E ratio of 8.80 and a beta of 2.05.
Coherus Biosciences (NASDAQ:CHRS) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.10. The business had revenue of $116.18 million during the quarter, compared to analyst estimates of $116.25 million. Coherus Biosciences had a net margin of 33.42% and a return on equity of 190.82%. On average, analysts anticipate that Coherus Biosciences will post 1.31 EPS for the current year.
In other Coherus Biosciences news, COO Vincent R. Anicetti sold 5,150 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $17.00, for a total transaction of $87,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary T. Szela sold 54,997 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $17.58, for a total transaction of $966,847.26. Following the transaction, the director now directly owns 14,997 shares of the company’s stock, valued at $263,647.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 268,925 shares of company stock worth $4,627,867. Company insiders own 15.86% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CHRS. Victory Capital Management Inc. boosted its holdings in Coherus Biosciences by 5.8% in the fourth quarter. Victory Capital Management Inc. now owns 10,438 shares of the biotechnology company’s stock valued at $188,000 after purchasing an additional 575 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Coherus Biosciences by 330.1% in the fourth quarter. Principal Financial Group Inc. now owns 46,528 shares of the biotechnology company’s stock worth $838,000 after buying an additional 35,710 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Coherus Biosciences by 2.9% during the fourth quarter. New York State Common Retirement Fund now owns 65,245 shares of the biotechnology company’s stock worth $1,175,000 after acquiring an additional 1,845 shares during the period. Rhumbline Advisers raised its position in Coherus Biosciences by 3.7% during the fourth quarter. Rhumbline Advisers now owns 105,958 shares of the biotechnology company’s stock valued at $1,908,000 after acquiring an additional 3,753 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Coherus Biosciences by 2.5% in the fourth quarter. Swiss National Bank now owns 100,100 shares of the biotechnology company’s stock valued at $1,802,000 after acquiring an additional 2,400 shares during the period.
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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