Zacks Investment Research upgraded shares of Coherus Biosciences (NASDAQ:CHRS) from a sell rating to a hold rating in a research report released on Tuesday morning.
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 analysts have also recently issued reports on the company. BidaskClub cut Coherus Biosciences from a hold rating to a sell rating in a research report on Wednesday, September 19th. HC Wainwright started 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. ValuEngine cut Coherus Biosciences from a strong-buy rating to a buy rating in a research report on Friday, September 14th. Finally, Maxim Group reissued a buy rating and set a $25.00 price objective on shares of Coherus Biosciences in a research report on Tuesday, September 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $23.75.
CHRS traded up $0.12 during trading on Tuesday, reaching $13.33. 605,694 shares of the stock traded hands, compared to its average volume of 695,465. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -2.98 and a beta of 3.67. Coherus Biosciences has a fifty-two week low of $8.05 and a fifty-two week high of $20.66. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 1.66.
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 analysts’ consensus estimates of ($0.64) by ($0.04). As a group, sell-side analysts forecast that Coherus Biosciences will post -3.03 earnings per share for the current fiscal year.
In other Coherus Biosciences news, Director James Healy sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $20.50, for a total transaction of $512,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Barbara K. Finck sold 1,760 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $18.58, for a total value of $32,700.80. Following the transaction, the insider now owns 38,803 shares in the company, valued at $720,959.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,811 shares of company stock valued at $751,117. Insiders own 19.57% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CHRS. Wells Fargo & Company MN raised its holdings in Coherus Biosciences by 2.7% during the first quarter. Wells Fargo & Company MN now owns 218,448 shares of the biotechnology company’s stock valued at $2,413,000 after buying an additional 5,658 shares in the last quarter. Swiss National Bank raised its holdings in Coherus Biosciences by 13.5% during the first quarter. Swiss National Bank now owns 65,500 shares of the biotechnology company’s stock valued at $724,000 after buying an additional 7,800 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Coherus Biosciences by 11.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 211,070 shares of the biotechnology company’s stock worth $2,333,000 after purchasing an additional 21,373 shares during the period. Northern Trust Corp increased its stake in shares of Coherus Biosciences by 1.9% in the first quarter. Northern Trust Corp now owns 477,300 shares of the biotechnology company’s stock worth $5,274,000 after purchasing an additional 8,760 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Coherus Biosciences by 4.2% in the first quarter. BlackRock Inc. now owns 3,333,724 shares of the biotechnology company’s stock worth $36,837,000 after purchasing an additional 134,998 shares during the period. Institutional investors own 91.31% of the company’s stock.
Coherus Biosciences Company Profile
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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