Coherus BioSciences (NASDAQ:CHRS) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
CHRS has been the topic of a number of other research reports. Zacks Investment Research raised Coherus BioSciences from a “sell” rating to a “hold” rating in a research report on Tuesday, May 15th. Maxim Group set a $18.00 price objective on Coherus BioSciences and gave the company a “buy” rating in a research report on Thursday, May 3rd. ValuEngine raised Coherus BioSciences from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 12th. Finally, Citigroup raised their price objective on Coherus BioSciences from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $28.13.
Coherus BioSciences opened at $15.60 on Wednesday, according to MarketBeat Ratings. Coherus BioSciences has a 12-month low of $8.05 and a 12-month high of $23.24. The company has a debt-to-equity ratio of -33.10, a quick ratio of 4.06 and a current ratio of 4.06. The firm has a market cap of $941.91 million, a PE ratio of -3.48 and a beta of 3.39.
Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings results on Thursday, May 10th. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.04). equities analysts expect that Coherus BioSciences will post -2.91 EPS for the current year.
In other Coherus BioSciences news, insider Dennis M. Lanfear sold 20,984 shares of the stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $16.26, for a total value of $341,199.84. Following the completion of the sale, the insider now directly owns 92,619 shares in the company, valued at $1,505,984.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 26.28% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CHRS. Sofinnova Ventures Inc purchased a new stake in Coherus BioSciences in the first quarter valued at about $31,970,000. Citadel Advisors LLC raised its stake in Coherus BioSciences by 819.9% in the fourth quarter. Citadel Advisors LLC now owns 1,772,241 shares of the biotechnology company’s stock valued at $15,595,000 after buying an additional 1,579,582 shares during the last quarter. Millennium Management LLC raised its stake in Coherus BioSciences by 543.6% in the fourth quarter. Millennium Management LLC now owns 695,286 shares of the biotechnology company’s stock valued at $6,119,000 after buying an additional 587,248 shares during the last quarter. Rubric Capital Management LP purchased a new stake in Coherus BioSciences in the first quarter valued at about $5,121,000. Finally, State of Wisconsin Investment Board raised its stake in Coherus BioSciences by 70.8% in the fourth quarter. State of Wisconsin Investment Board now owns 919,000 shares of the biotechnology company’s stock valued at $8,087,000 after buying an additional 381,000 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.
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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