Several other brokerages also recently commented on CHRS. Robert W. Baird set a $28.00 target price on Coherus Biosciences and gave the stock a buy rating in a research note on Wednesday, June 19th. HC Wainwright raised their target price on Applied Genetic Technologies from $5.75 to $12.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. Zacks Investment Research downgraded Farmland Partners from a hold rating to a sell rating in a research note on Friday, July 12th. ValuEngine downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, July 17th. Finally, Barclays raised their target price on from GBX 200 ($2.61) to GBX 210 ($2.74) and gave the stock an equal weight rating in a research note on Friday, June 21st. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $29.14.
CHRS stock opened at $17.06 on Friday. The company has a market cap of $1.18 billion, a P/E ratio of -5.30 and a beta of 3.12. Coherus Biosciences has a fifty-two week low of $8.32 and a fifty-two week high of $23.43. The business’s fifty day moving average price is $19.83.
Coherus Biosciences (NASDAQ:CHRS) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.16. The firm had revenue of $37.10 million for the quarter, compared to the consensus estimate of $36.83 million. On average, sell-side analysts predict that Coherus Biosciences will post -0.45 EPS for the current fiscal year.
In other Coherus Biosciences news, COO Vincent R. Anicetti sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $19.20, for a total value of $48,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dennis M. Lanfear sold 32,398 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $19.49, for a total value of $631,437.02. Following the completion of the sale, the chief executive officer now directly owns 125,017 shares in the company, valued at approximately $2,436,581.33. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,176,724 shares of company stock valued at $25,365,332. 18.20% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Coherus Biosciences by 2.1% in the 4th quarter. BlackRock Inc. now owns 4,722,418 shares of the biotechnology company’s stock valued at $42,739,000 after acquiring an additional 94,893 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Coherus Biosciences by 30.4% in the 4th quarter. Deutsche Bank AG now owns 2,382,438 shares of the biotechnology company’s stock valued at $21,559,000 after acquiring an additional 555,972 shares in the last quarter. Rhenman & Partners Asset Management AB raised its holdings in shares of Coherus Biosciences by 40.5% in the 1st quarter. Rhenman & Partners Asset Management AB now owns 451,131 shares of the biotechnology company’s stock valued at $6,153,000 after acquiring an additional 130,000 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Coherus Biosciences by 32.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 378,173 shares of the biotechnology company’s stock valued at $3,422,000 after acquiring an additional 91,848 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Coherus Biosciences by 46.9% during the 4th quarter. Two Sigma Investments LP now owns 234,105 shares of the biotechnology company’s stock valued at $2,119,000 after buying an additional 74,690 shares in the last quarter. 99.22% of the stock is currently owned by hedge funds and other institutional investors.
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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