Zacks: Analysts Expect Coherus Biosciences Inc (NASDAQ:CHRS) Will Post Quarterly Sales of $100.33 Million

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Equities analysts expect Coherus Biosciences Inc (NASDAQ:CHRS) to report sales of $100.33 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Coherus Biosciences’ earnings, with the highest sales estimate coming in at $103.73 million and the lowest estimate coming in at $98.30 million. Coherus Biosciences reported sales of $83.43 million in the same quarter last year, which would indicate a positive year over year growth rate of 20.3%. The company is expected to report its next earnings results on Thursday, August 6th.

On average, analysts expect that Coherus Biosciences will report full year sales of $440.35 million for the current fiscal year, with estimates ranging from $423.00 million to $460.00 million. For the next fiscal year, analysts forecast that the company will post sales of $448.78 million, with estimates ranging from $410.60 million to $495.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Coherus Biosciences.

Coherus Biosciences (NASDAQ:CHRS) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. The company had revenue of $116.18 million during the quarter, compared to analysts’ expectations of $116.25 million. Coherus Biosciences had a net margin of 33.42% and a return on equity of 190.82%.

Several equities research analysts have commented on the stock. TheStreet upgraded shares of Coherus Biosciences from a “d+” rating to a “c-” rating in a research note on Friday, March 20th. Maxim Group initiated coverage on shares of Coherus Biosciences in a report on Saturday, May 9th. They set a “buy” rating and a $27.00 target price for the company. SunTrust Banks initiated coverage on shares of Coherus Biosciences in a report on Friday, April 17th. They set a “buy” rating and a $26.00 target price for the company. BidaskClub lowered shares of Coherus Biosciences from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Coherus Biosciences in a research note on Friday, May 8th. Three analysts have rated the stock with a sell rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $30.88.

CHRS opened at $17.42 on Wednesday. The company’s 50-day moving average price is $17.77 and its 200 day moving average price is $17.75. Coherus Biosciences has a fifty-two week low of $10.86 and a fifty-two week high of $23.91. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 8.89 and a beta of 2.10. The company has a quick ratio of 3.18, a current ratio of 3.32 and a debt-to-equity ratio of 1.21.

In other Coherus Biosciences news, COO Vincent R. Anicetti sold 2,500 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.22, for a total value of $43,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary T. Szela sold 54,997 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $17.58, for a total transaction of $966,847.26. Following the completion of the sale, the director now owns 14,997 shares in the company, valued at $263,647.26. The disclosure for this sale can be found here. Insiders sold a total of 268,925 shares of company stock worth $4,627,867 over the last quarter. 15.86% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CHRS. Alliancebernstein L.P. boosted its position in shares of Coherus Biosciences by 293.0% during the 4th quarter. Alliancebernstein L.P. now owns 2,178,030 shares of the biotechnology company’s stock valued at $39,215,000 after acquiring an additional 1,623,851 shares in the last quarter. Temasek Holdings Private Ltd raised its stake in shares of Coherus Biosciences by 12.6% in the fourth quarter. Temasek Holdings Private Ltd now owns 7,381,116 shares of the biotechnology company’s stock worth $132,897,000 after acquiring an additional 825,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Coherus Biosciences by 19.3% in the first quarter. JPMorgan Chase & Co. now owns 4,124,245 shares of the biotechnology company’s stock worth $66,896,000 after acquiring an additional 666,775 shares during the last quarter. Hawk Ridge Capital Management LP acquired a new position in Coherus Biosciences during the fourth quarter valued at approximately $11,821,000. Finally, Invesco Ltd. grew its holdings in Coherus Biosciences by 206.8% during the first quarter. Invesco Ltd. now owns 903,522 shares of the biotechnology company’s stock valued at $14,654,000 after purchasing an additional 608,983 shares during the period.

About Coherus Biosciences

Coherus BioSciences, Inc, a commercial-stage biotherapeutics company, focuses on the biosimilar market worldwide. It markets UDENYCA, a long-acting granulocyte-colony stimulating factor, which stimulates production of granulocytes in order to promote the body's ability to fight infections. The company sells UDENYCA in the United States.

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