Alyeska Investment Group L.P. decreased its stake in shares of Coherus Biosciences Inc (NASDAQ:CHRS) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 559,581 shares of the biotechnology company’s stock after selling 26,446 shares during the period. Alyeska Investment Group L.P. owned about 0.97% of Coherus Biosciences worth $7,470,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Bank of America Corp DE lifted its position in 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 during the period. New York State Common Retirement Fund lifted its position in Coherus Biosciences by 32.1% during the second quarter. New York State Common Retirement Fund now owns 43,600 shares of the biotechnology company’s stock valued at $626,000 after purchasing an additional 10,599 shares during the period. Virtu KCG Holdings LLC bought a new position in Coherus Biosciences during the second quarter valued at approximately $602,000. Temasek Holdings Private Ltd bought a new position in Coherus Biosciences during the third quarter valued at approximately $87,524,000. Finally, Schwab Charles Investment Management Inc. lifted its position in Coherus Biosciences by 12.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 134,302 shares of the biotechnology company’s stock valued at $2,841,000 after purchasing an additional 14,838 shares during the period. Institutional investors own 81.07% of the company’s stock.
Shares of Coherus Biosciences Inc (NASDAQ CHRS) opened at $8.60 on Tuesday. Coherus Biosciences Inc has a twelve month low of $8.05 and a twelve month high of $29.59. The company has a debt-to-equity ratio of 1.84, a current ratio of 5.46 and a quick ratio of 5.46.
Coherus Biosciences (NASDAQ:CHRS) last announced its earnings results on Monday, November 6th. The biotechnology company reported ($1.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.83) by ($0.26). Coherus Biosciences had a negative net margin of 73.89% and a negative return on equity of 582.31%. equities analysts expect that Coherus Biosciences Inc will post -4.39 earnings per share for the current fiscal year.
CHRS has been the subject of a number of research reports. Zacks Investment Research raised shares of Coherus Biosciences from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, August 15th. ValuEngine raised shares of Coherus Biosciences from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Credit Suisse Group reaffirmed an “outperform” rating and set a $17.00 target price (down from $24.00) on shares of Coherus Biosciences in a report on Wednesday, September 27th. Maxim Group reaffirmed a “buy” rating and set a $20.00 target price (down from $40.00) on shares of Coherus Biosciences in a report on Friday, September 8th. Finally, Cowen reaffirmed an “outperform” rating and set a $45.00 target price on shares of Coherus Biosciences in a report on Friday, September 8th. Three research analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $30.00.
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Coherus Biosciences Company Profile
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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