Zacks Investment Research lowered shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) from a buy rating to a hold rating in a research report released on Tuesday.
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. “
A number of other brokerages also recently commented on CHRS. BidaskClub downgraded shares of Coherus BioSciences from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Maxim Group set a $43.00 target price on shares of Coherus BioSciences and gave the stock a buy rating in a research note on Monday, May 15th. Citigroup Inc. set a $38.00 target price on shares of Coherus BioSciences and gave the stock a buy rating in a research note on Wednesday, May 17th. ValuEngine upgraded shares of Coherus BioSciences from a strong sell rating to a sell rating in a research note on Friday, September 1st. Finally, Credit Suisse Group set a $38.00 target price on shares of Coherus BioSciences and gave the stock a buy rating in a research note on Monday, June 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Coherus BioSciences currently has an average rating of Buy and an average target price of $32.70.
Coherus BioSciences (NASDAQ CHRS) opened at 12.35 on Tuesday. The company has a 50-day moving average of $13.12 and a 200-day moving average of $17.81. Coherus BioSciences has a one year low of $10.80 and a one year high of $31.98. The stock’s market capitalization is $634.12 million.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Monday, August 7th. The biotechnology company reported ($1.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.29) by $0.21. The business had revenue of $1.40 million for the quarter. Coherus BioSciences had a negative net margin of 73.89% and a negative return on equity of 307.41%. On average, equities analysts forecast that Coherus BioSciences will post ($5.13) EPS for the current fiscal year.
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In other news, insider Alan C. Herman sold 17,535 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $15.02, for a total transaction of $263,375.70. Following the transaction, the insider now directly owns 49,651 shares in the company, valued at $745,758.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 26.28% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd bought a new position in shares of Coherus BioSciences during the first quarter valued at approximately $246,000. Trexquant Investment LP bought a new position in shares of Coherus BioSciences during the first quarter valued at approximately $319,000. Bank of America Corp DE boosted its stake in shares of Coherus BioSciences by 171.0% during the first quarter. Bank of America Corp DE now owns 18,308 shares of the biotechnology company’s stock valued at $387,000 after purchasing an additional 11,553 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of Coherus BioSciences during the first quarter valued at approximately $1,331,000. Finally, Swiss National Bank boosted its stake in shares of Coherus BioSciences by 39.9% during the first quarter. Swiss National Bank now owns 52,200 shares of the biotechnology company’s stock valued at $1,104,000 after purchasing an additional 14,900 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.
About Coherus BioSciences
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is engaged in the business of developing and commercializing biosimilar products. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta) and bevacizumab (Avastin); Immunology (Anti-TNF) biosimilar candidates etanercept (Enbrel) and adalimumab (Humira); Ophthalmology biosimilar candidate ranibizumab (Lucentis), and Multiple sclerosis small molecule therapeutic candidate, CHS-131.
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