Barclays assumed coverage on shares of Coherus Biosciences (NASDAQ:CHRS) in a report released on Tuesday, BenzingaRatingsTable reports. The brokerage issued an overweight rating and a $30.00 price target on the biotechnology company’s stock.
A number of other analysts have also issued reports on the company. BidaskClub raised Coherus Biosciences from a buy rating to a strong-buy rating in a research note on Monday, May 20th. ValuEngine raised Coherus Biosciences from a hold rating to a buy rating in a research note on Saturday, May 18th. Zacks Investment Research raised Coherus Biosciences from a hold rating to a buy rating and set a $19.00 price target on the stock in a research note on Wednesday, May 15th. Maxim Group set a $25.00 price target on Coherus Biosciences and gave the stock a buy rating in a research note on Friday, May 10th. Finally, HC Wainwright started coverage on Coherus Biosciences in a research note on Tuesday, May 7th. They issued a buy rating and a $28.00 price target on the stock. Nine research analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and an average price target of $28.57.
Shares of CHRS opened at $18.25 on Tuesday. The company has a current ratio of 3.84, a quick ratio of 3.79 and a debt-to-equity ratio of 8.29. Coherus Biosciences has a 12 month low of $8.32 and a 12 month high of $21.18. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -5.67 and a beta of 3.17.
Coherus Biosciences (NASDAQ:CHRS) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.16. The business had revenue of $37.10 million during the quarter, compared to analyst estimates of $36.83 million. Research analysts anticipate that Coherus Biosciences will post -0.8 earnings per share for the current year.
In other news, CEO Dennis M. Lanfear sold 32,398 shares of Coherus Biosciences stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $19.49, for a total value of $631,437.02. Following the sale, the chief executive officer now directly owns 125,017 shares of the company’s stock, valued at $2,436,581.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jean-Frederic Viret sold 3,000 shares of Coherus Biosciences stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $14.92, for a total value of $44,760.00. Following the completion of the sale, the chief financial officer now directly owns 13,185 shares in the company, valued at $196,720.20. The disclosure for this sale can be found here. Insiders sold 293,268 shares of company stock worth $6,011,527 over the last ninety days. Corporate insiders own 18.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CHRS. Pura Vida Investments LLC bought a new position in shares of Coherus Biosciences during the fourth quarter valued at approximately $1,910,000. Rhenman & Partners Asset Management AB grew its holdings in shares of Coherus Biosciences by 40.5% during the first quarter. Rhenman & Partners Asset Management AB now owns 451,131 shares of the biotechnology company’s stock valued at $6,153,000 after purchasing an additional 130,000 shares during the last quarter. Rhumbline Advisers grew its holdings in Coherus Biosciences by 56.1% in the 4th quarter. Rhumbline Advisers now owns 68,251 shares of the biotechnology company’s stock worth $618,000 after buying an additional 24,533 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in Coherus Biosciences in the 4th quarter worth approximately $905,000. Finally, BlackRock Inc. grew its holdings in Coherus Biosciences by 2.1% in the 4th quarter. BlackRock Inc. now owns 4,722,418 shares of the biotechnology company’s stock worth $42,739,000 after buying an additional 94,893 shares in the last quarter. Hedge funds and other institutional investors own 99.18% of the company’s stock.
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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