Coherus BioSciences Inc. (NASDAQ:CHRS) insider Alan C. Herman sold 11,333 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $25.69, for a total transaction of $291,144.77. Following the completion of the sale, the insider now owns 161,687 shares of the company’s stock, valued at approximately $4,153,739.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Coherus BioSciences Inc. (NASDAQ:CHRS) opened at 27.04 on Monday. The company has a 50 day moving average of $29.31 and a 200 day moving average of $22.96. The firm’s market cap is $1.17 billion. Coherus BioSciences Inc. has a 52 week low of $12.04 and a 52 week high of $31.98.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($1.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.40. The company earned $14.07 million during the quarter, compared to the consensus estimate of $6.87 million. Coherus BioSciences had a negative return on equity of 1,583.92% and a negative net margin of 591.61%. On average, equities research analysts anticipate that Coherus BioSciences Inc. will post ($6.22) EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of CHRS. BlackRock Inc. raised its stake in Coherus BioSciences by 440.1% in the second quarter. BlackRock Inc. now owns 7,659 shares of the company’s stock valued at $129,000 after buying an additional 6,241 shares during the last quarter. Bourgeon Capital Management LLC acquired a new stake in Coherus BioSciences during the second quarter valued at $226,000. Jennison Associates LLC acquired a new stake in Coherus BioSciences during the second quarter valued at $228,000. State Board of Administration of Florida Retirement System acquired a new stake in Coherus BioSciences during the second quarter valued at $241,000. Finally, Emerald Acquisition Ltd. acquired a new stake in Coherus BioSciences during the second quarter valued at $253,000. Institutional investors and hedge funds own 58.37% of the company’s stock.
Several analysts have recently commented on the stock. Maxim Group assumed coverage on shares of Coherus BioSciences in a research note on Wednesday, September 7th. They issued a “buy” rating and a $43.00 target price for the company. Zacks Investment Research cut shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Monday, August 15th. Barclays PLC restated an “overweight” rating and issued a $46.00 target price on shares of Coherus BioSciences in a research note on Tuesday, October 4th. Credit Suisse Group AG restated a “buy” rating and issued a $38.00 target price on shares of Coherus BioSciences in a research note on Wednesday, September 28th. Finally, Citigroup Inc. assumed coverage on shares of Coherus BioSciences in a research note on Wednesday, July 27th. They issued a “buy” rating and a $36.00 target price for the company. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $36.50.
About Coherus BioSciences
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is focused on the global biosimilar market. The Company operates through developing and commercializing biosimilar products segment. Its business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta), in late clinical-stage, and bevacizumab (Avastin), in preclinical-stage; Immunology (Anti-TNF) biosimilar candidates, etanercept (Enbrel) and adalimumab (Humira), which are both in late clinical-stage; Ophthalmology biosimilar candidate ranibizumab (Lucentis) in preclinical stage, and Multiple sclerosis small molecule therapeutic candidate, CHS-131 (formerly INT-131), in Phase II proof-of-concept trial.
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