Coherus Biosciences (NASDAQ:CHRS) released its quarterly earnings results on Thursday. The biotechnology company reported ($0.87) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by ($0.08), Morningstar.com reports.
Shares of Coherus Biosciences stock traded down $1.88 during midday trading on Friday, hitting $10.06. 2,369,603 shares of the company were exchanged, compared to its average volume of 892,346. The company has a debt-to-equity ratio of 1.66, a current ratio of 7.79 and a quick ratio of 7.79. The company has a market capitalization of $846.40 million, a PE ratio of -2.24 and a beta of 3.72. Coherus Biosciences has a 52 week low of $8.05 and a 52 week high of $20.66.
Several research firms have recently issued reports on CHRS. BidaskClub cut Coherus Biosciences from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. HC Wainwright initiated coverage on Coherus Biosciences in a report on Tuesday, August 28th. They set a “buy” rating and a $28.00 price objective on the stock. Maxim Group reissued a “buy” rating and set a $25.00 price objective on shares of Coherus Biosciences in a report on Tuesday, September 25th. Zacks Investment Research lowered Coherus Biosciences from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Finally, ValuEngine raised Coherus Biosciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.20.
In other Coherus Biosciences news, Director James Healy sold 25,000 shares of Coherus Biosciences stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $20.50, for a total value of $512,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Barbara K. Finck sold 1,760 shares of Coherus Biosciences stock in a transaction on Monday, August 13th. The shares were sold at an average price of $19.02, for a total value of $33,475.20. The disclosure for this sale can be found here. Insiders have sold a total of 28,520 shares of company stock valued at $578,676 in the last 90 days. 26.28% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlueMountain Capital Management LLC acquired a new stake in shares of Coherus Biosciences in the 2nd quarter valued at $214,000. Royal Bank of Canada grew its stake in shares of Coherus Biosciences by 26.2% during the first quarter. Royal Bank of Canada now owns 32,526 shares of the biotechnology company’s stock worth $360,000 after purchasing an additional 6,754 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Coherus Biosciences during the second quarter worth $266,000. Tower Research Capital LLC TRC acquired a new stake in shares of Coherus Biosciences during the second quarter worth $118,000. Finally, Swiss National Bank grew its stake in Coherus Biosciences by 7.6% in the second quarter. Swiss National Bank now owns 70,500 shares of the biotechnology company’s stock valued at $987,000 after acquiring an additional 5,000 shares during the period. Hedge funds and other institutional investors own 91.25% of the company’s stock.
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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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