Pier Capital LLC acquired a new stake in Coherus Biosciences Inc (NASDAQ:CHRS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 252,243 shares of the biotechnology company’s stock, valued at approximately $3,531,000.
Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new stake in shares of Coherus Biosciences in the first quarter worth about $115,000. Hartwell J M Limited Partnership purchased a new stake in shares of Coherus Biosciences in the second quarter worth about $140,000. Bayesian Capital Management LP purchased a new stake in shares of Coherus Biosciences in the first quarter worth about $217,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Coherus Biosciences in the first quarter worth about $259,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Coherus Biosciences in the second quarter worth about $266,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on CHRS. Zacks Investment Research upgraded Coherus Biosciences from a “sell” rating to a “hold” rating in a research report on Tuesday, May 15th. BidaskClub upgraded Coherus Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, May 8th. ValuEngine upgraded Coherus Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Finally, Maxim Group set a $18.00 price target on Coherus Biosciences and gave the stock a “buy” rating in a research report on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Coherus Biosciences has an average rating of “Buy” and an average target price of $25.20.
Shares of CHRS stock opened at $19.00 on Friday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -4.24 and a beta of 3.68. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 1.66. Coherus Biosciences Inc has a 12-month low of $8.05 and a 12-month high of $19.60.
Coherus Biosciences (NASDAQ:CHRS) last issued its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.04). research analysts predict that Coherus Biosciences Inc will post -3.05 EPS for the current year.
In other Coherus Biosciences news, CFO Jean-Frederic Viret sold 9,291 shares of the stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $18.56, for a total transaction of $172,440.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Barbara K. Finck sold 1,760 shares of the stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $15.00, for a total value of $26,400.00. The disclosure for this sale can be found here. Insiders have sold 14,571 shares of company stock worth $258,734 in the last quarter. 19.57% of the stock is currently owned by company insiders.
Coherus Biosciences Profile
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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