Coherus Biosciences (NASDAQ:CHRS) Raised to Sell at BidaskClub

Coherus Biosciences (NASDAQ:CHRS) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday, BidAskClub reports.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Coherus Biosciences from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Maxim Group reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Coherus Biosciences in a research note on Saturday, February 29th. Zacks Investment Research raised shares of Coherus Biosciences from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, March 3rd. Credit Suisse Group reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Coherus Biosciences in a research note on Thursday, March 5th. Finally, HC Wainwright lifted their price objective on shares of Coherus Biosciences from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.63.

CHRS stock opened at $16.79 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.90 and a debt-to-equity ratio of 1.79. Coherus Biosciences has a 1 year low of $10.86 and a 1 year high of $23.91. The company has a fifty day simple moving average of $18.76 and a 200 day simple moving average of $18.83. The firm has a market cap of $1.13 billion, a PE ratio of 14.11 and a beta of 2.58.

Coherus Biosciences (NASDAQ:CHRS) last released its quarterly earnings data on Thursday, February 27th. The biotechnology company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.12). Coherus Biosciences had a net margin of 25.23% and a return on equity of 302.63%. The business had revenue of $123.86 million during the quarter, compared to analyst estimates of $123.60 million. As a group, analysts forecast that Coherus Biosciences will post 1.89 EPS for the current fiscal year.

In other Coherus Biosciences news, CFO Jean-Frederic Viret sold 3,159 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $22.33, for a total transaction of $70,540.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Vincent R. Anicetti sold 10,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $19.59, for a total transaction of $195,900.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,477 shares of company stock valued at $391,853. Company insiders own 18.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its position in Coherus Biosciences by 5.8% during the 4th quarter. Victory Capital Management Inc. now owns 10,438 shares of the biotechnology company’s stock worth $188,000 after acquiring an additional 575 shares during the last quarter. California State Teachers Retirement System lifted its position in Coherus Biosciences by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 96,449 shares of the biotechnology company’s stock worth $1,954,000 after acquiring an additional 1,152 shares during the last quarter. Jane Street Group LLC lifted its position in Coherus Biosciences by 15.7% during the 4th quarter. Jane Street Group LLC now owns 12,671 shares of the biotechnology company’s stock worth $228,000 after acquiring an additional 1,721 shares during the last quarter. Meeder Asset Management Inc. lifted its position in Coherus Biosciences by 378.7% during the 4th quarter. Meeder Asset Management Inc. now owns 2,269 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 1,795 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Coherus Biosciences by 2.9% during the 4th 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 last quarter.

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.

Recommended Story: Hold Rating

Analyst Recommendations for Coherus Biosciences (NASDAQ:CHRS)

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