A number of other analysts also recently commented on the stock. Robert W. Baird set a $28.00 price target on shares of Coherus Biosciences and gave the stock a buy rating in a research report on Wednesday, June 19th. ValuEngine downgraded shares of Coherus Biosciences from a sell rating to a strong sell rating in a research report on Thursday, October 10th. Zacks Investment Research downgraded shares of Coherus Biosciences from a buy rating to a hold rating in a research report on Thursday, October 10th. HC Wainwright restated a buy rating and set a $29.00 price target (up from $28.00) on shares of Coherus Biosciences in a research report on Friday, August 2nd. Finally, Barclays set a $31.00 price target on shares of Coherus Biosciences and gave the stock a buy rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $31.38.
Shares of CHRS stock traded up $0.57 during midday trading on Wednesday, reaching $19.17. 48,776 shares of the company were exchanged, compared to its average volume of 1,370,953. Coherus Biosciences has a 12 month low of $8.32 and a 12 month high of $23.91. The company has a market cap of $1.30 billion, a P/E ratio of -5.92 and a beta of 2.94. The company’s 50 day moving average price is $20.65 and its two-hundred day moving average price is $18.79.
Coherus Biosciences (NASDAQ:CHRS) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.40. The company had revenue of $83.43 million for the quarter, compared to the consensus estimate of $81.05 million. Equities research analysts predict that Coherus Biosciences will post 0.89 EPS for the current year.
In related news, COO Vincent R. Anicetti sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $18.40, for a total value of $46,000.00. Following the sale, the chief operating officer now directly owns 21,810 shares in the company, valued at approximately $401,304. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jean-Frederic Viret sold 3,159 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $20.44, for a total transaction of $64,569.96. Following the completion of the sale, the chief financial officer now owns 11,672 shares in the company, valued at $238,575.68. The disclosure for this sale can be found here. Insiders sold a total of 20,717 shares of company stock worth $418,546 over the last quarter. Insiders own 18.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in shares of Coherus Biosciences by 6.4% in 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 in the last quarter. United Services Automobile Association increased its position in shares of Coherus Biosciences by 0.9% in 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 in the last quarter. Brown Advisory Inc. increased its position in shares of Coherus Biosciences by 0.5% in 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 in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Coherus Biosciences by 15.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 25,485 shares of the biotechnology company’s stock worth $563,000 after acquiring an additional 3,390 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Coherus Biosciences in the second quarter worth approximately $75,000. 95.46% of the stock is currently owned by institutional investors and hedge funds.
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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