Coherus Biosciences (CHRS) Downgraded to Strong Sell at BidaskClub

BidaskClub lowered shares of Coherus Biosciences (NASDAQ:CHRS) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday.

Several other research firms have also recently issued reports on CHRS. HC Wainwright began coverage on Coherus Biosciences in a research report on Tuesday, August 28th. They set a buy rating and a $28.00 price objective for the company. Zacks Investment Research raised Coherus Biosciences from a sell rating to a hold rating in a research report on Friday, September 7th. ValuEngine raised Coherus Biosciences from a buy rating to a strong-buy rating in a research report on Thursday, August 2nd. Finally, Maxim Group reaffirmed a buy rating and set a $25.00 price objective on shares of Coherus Biosciences in a research report on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $23.75.

Shares of NASDAQ:CHRS traded up $0.12 on Tuesday, hitting $13.33. 605,694 shares of the company’s stock were exchanged, compared to its average volume of 695,465. The stock has a market cap of $1.12 billion, a P/E ratio of -2.98 and a beta of 3.67. Coherus Biosciences has a 1-year low of $8.05 and a 1-year high of $20.66. The company has a debt-to-equity ratio of 1.66, a quick ratio of 7.79 and a current ratio of 7.79.

Coherus Biosciences (NASDAQ:CHRS) last released its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by ($0.04). On average, equities research analysts predict that Coherus Biosciences will post -3.03 EPS for the current year.

In other news, insider Barbara K. Finck sold 1,760 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $19.02, for a total value of $33,475.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Healy sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $20.50, for a total value of $512,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,811 shares of company stock valued at $751,117. Insiders own 19.57% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Coherus Biosciences by 24.3% in the 2nd quarter. BlackRock Inc. now owns 4,144,082 shares of the biotechnology company’s stock valued at $58,018,000 after purchasing an additional 810,358 shares during the last quarter. Sofinnova Ventures Inc purchased a new stake in shares of Coherus Biosciences in the 1st quarter valued at about $31,970,000. JPMorgan Chase & Co. lifted its holdings in shares of Coherus Biosciences by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 2,045,068 shares of the biotechnology company’s stock valued at $22,598,000 after purchasing an additional 143,074 shares during the last quarter. Orbimed Advisors LLC lifted its holdings in shares of Coherus Biosciences by 0.9% in the 2nd quarter. Orbimed Advisors LLC now owns 1,480,482 shares of the biotechnology company’s stock valued at $20,727,000 after purchasing an additional 13,682 shares during the last quarter. Finally, Rock Springs Capital Management LP lifted its holdings in shares of Coherus Biosciences by 10.4% in the 1st quarter. Rock Springs Capital Management LP now owns 695,000 shares of the biotechnology company’s stock valued at $7,680,000 after purchasing an additional 65,500 shares during the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

About Coherus Biosciences

Coherus BioSciences, Inc, a biosimilar company, develops and commercializes various therapeutic products worldwide. The company engages in the development of late-stage clinical products, including CHS-1701 pegfilgrastim biosimilar, a granulocyte colony-stimulating factor product candidate; CHS-1420 adalimumab biosimilar, an anti-tumor necrosis factor product candidate; and CHS-0214, an etanercept biosimilar for rheumatoid arthritis and psoriasis.

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