Coherus Biosciences (NASDAQ:CHRS) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.08), Morningstar.com reports.
Shares of NASDAQ CHRS traded down $1.88 during midday trading on Friday, hitting $10.06. 2,369,603 shares of the company’s stock were exchanged, compared to its average volume of 892,346. The company has a debt-to-equity ratio of 1.66, a quick ratio of 7.79 and a current ratio of 7.79. Coherus Biosciences has a twelve month low of $8.05 and a twelve month high of $20.66. The firm has a market capitalization of $846.40 million, a PE ratio of -2.24 and a beta of 3.72.
In other news, insider Barbara K. Finck sold 1,760 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $19.02, for a total transaction of $33,475.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Healy sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $20.50, for a total value of $512,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,520 shares of company stock worth $578,676 in the last three months. Corporate insiders own 26.28% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CHRS. BlackRock Inc. raised its position in shares of Coherus Biosciences by 24.3% during the 2nd quarter. BlackRock Inc. now owns 4,144,082 shares of the biotechnology company’s stock worth $58,018,000 after acquiring an additional 810,358 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Coherus Biosciences during the 2nd quarter worth about $4,379,000. Pier Capital LLC acquired a new stake in shares of Coherus Biosciences during the 2nd quarter worth about $3,531,000. Sivik Global Healthcare LLC purchased a new position in Coherus Biosciences during the 2nd quarter worth approximately $1,400,000. Finally, C WorldWide Group Holding A S grew its stake in Coherus Biosciences by 54.2% during the 2nd quarter. C WorldWide Group Holding A S now owns 267,157 shares of the biotechnology company’s stock worth $3,740,000 after buying an additional 93,942 shares during the last quarter. 91.25% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on CHRS shares. HC Wainwright set a $28.00 price target on Coherus Biosciences and gave the company a “buy” rating in a research report on Wednesday, September 26th. Maxim Group reaffirmed a “buy” rating and issued a $25.00 price target on shares of Coherus Biosciences in a research report on Tuesday, September 25th. BidaskClub raised Coherus Biosciences from a “hold” rating to a “buy” rating in a research report on Friday, August 24th. ValuEngine lowered Coherus Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 14th. Finally, Zacks Investment Research raised Coherus Biosciences from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, October 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $27.20.
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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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