New York State Teachers Retirement System Makes New $715,000 Investment in Coherus Biosciences Inc (NASDAQ:CHRS)

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New York State Teachers Retirement System bought a new position in shares of Coherus Biosciences Inc (NASDAQ:CHRS) during the 2nd quarter, Holdings Channel reports. The firm bought 40,048 shares of the biotechnology company’s stock, valued at approximately $715,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CHRS. JPMorgan Chase & Co. lifted its holdings 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 valued at $66,896,000 after purchasing an additional 666,775 shares in the last quarter. State Street Corp lifted its holdings in shares of Coherus Biosciences by 0.5% in the first quarter. State Street Corp now owns 3,502,994 shares of the biotechnology company’s stock valued at $56,819,000 after purchasing an additional 16,517 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Coherus Biosciences by 48.1% in the first quarter. Alliancebernstein L.P. now owns 3,226,324 shares of the biotechnology company’s stock valued at $52,331,000 after purchasing an additional 1,048,294 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Coherus Biosciences by 1.6% in the first quarter. Wellington Management Group LLP now owns 2,314,660 shares of the biotechnology company’s stock valued at $37,544,000 after purchasing an additional 35,971 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Coherus Biosciences by 6.1% in the fourth quarter. Nuveen Asset Management LLC now owns 1,941,700 shares of the biotechnology company’s stock valued at $34,961,000 after purchasing an additional 111,785 shares in the last quarter.

Shares of CHRS opened at $17.59 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.18 and a current ratio of 3.32. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 2.42 and a beta of 2.10. Coherus Biosciences Inc has a 1 year low of $10.86 and a 1 year high of $23.91. The company’s 50 day simple moving average is $17.72 and its 200 day simple moving average is $17.77.

Coherus Biosciences (NASDAQ:CHRS) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.10. The company had revenue of $116.18 million for the quarter, compared to the consensus estimate of $116.25 million. Coherus Biosciences had a net margin of 33.42% and a return on equity of 190.82%. Equities analysts expect that Coherus Biosciences Inc will post 1.28 EPS for the current fiscal year.

Several analysts have issued reports on the stock. Bank of America assumed coverage on shares of Coherus Biosciences in a report on Thursday, July 16th. They issued a “neutral” rating and a $20.00 price target on the stock. Zacks Investment Research downgraded shares of Coherus Biosciences from a “hold” rating to a “sell” rating in a report on Wednesday, July 8th. Maxim Group assumed coverage on shares of Coherus Biosciences in a report on Saturday, May 9th. They issued a “buy” rating and a $27.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Coherus Biosciences in a research note on Friday, May 8th. Finally, SunTrust Banks assumed coverage on shares of Coherus Biosciences in a research note on Friday, April 17th. They set a “buy” rating and a $26.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.70.

In other Coherus Biosciences news, Director Mary T. Szela sold 54,997 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $17.58, for a total transaction of $966,847.26. Following the transaction, the director now owns 14,997 shares of the company’s stock, valued at $263,647.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Vincent R. Anicetti sold 15,000 shares of the stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $18.25, for a total transaction of $273,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,775 shares of company stock worth $4,736,217. 15.86% of the stock is currently owned by insiders.

Coherus Biosciences Profile

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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Institutional Ownership by Quarter for Coherus Biosciences (NASDAQ:CHRS)

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