Coherus BioSciences, Inc. (NASDAQ:CHRS) Issues Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Coherus BioSciences, Inc. (NASDAQ:CHRS) issued its earnings results on Monday, August 7th. The biotechnology company reported ($1.08) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.21, Bloomberg Earnings reports. The business had revenue of $1.40 million for the quarter. Coherus BioSciences had a negative net margin of 73.89% and a negative return on equity of 307.41%.

Coherus BioSciences (CHRS) traded down 1.542% on Friday, hitting $11.175. 142,845 shares of the stock traded hands. The company’s market cap is $573.79 million. The stock has a 50-day moving average price of $13.18 and a 200 day moving average price of $19.15. Coherus BioSciences has a 1-year low of $10.80 and a 1-year high of $31.98.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Coherus BioSciences from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Tuesday. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $25.00 target price (down from $32.00) on shares of Coherus BioSciences in a research note on Tuesday, August 8th. BidaskClub downgraded shares of Coherus BioSciences from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $24.00 target price (down from $38.00) on shares of Coherus BioSciences in a research note on Wednesday, June 14th. Finally, ValuEngine downgraded shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Two analysts have rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $34.70.

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In other Coherus BioSciences news, insider Alan C. Herman sold 17,535 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $15.02, for a total value of $263,375.70. Following the transaction, the insider now directly owns 49,651 shares of the company’s stock, valued at $745,758.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 32.88% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CHRS. FMR LLC boosted its position in Coherus BioSciences by 17.2% in the first quarter. FMR LLC now owns 7,671,981 shares of the biotechnology company’s stock worth $162,262,000 after buying an additional 1,124,163 shares during the last quarter. Vanguard Group Inc. boosted its position in Coherus BioSciences by 88.8% in the first quarter. Vanguard Group Inc. now owns 2,209,244 shares of the biotechnology company’s stock worth $46,726,000 after buying an additional 1,039,402 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Coherus BioSciences by 54.5% in the second quarter. UBS Asset Management Americas Inc. now owns 1,391,216 shares of the biotechnology company’s stock worth $19,964,000 after buying an additional 490,899 shares during the last quarter. JHL Capital Group LLC boosted its position in Coherus BioSciences by 180.0% in the first quarter. JHL Capital Group LLC now owns 700,000 shares of the biotechnology company’s stock worth $14,805,000 after buying an additional 450,000 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Coherus BioSciences by 70.6% in the second quarter. TIAA CREF Investment Management LLC now owns 1,001,104 shares of the biotechnology company’s stock worth $14,366,000 after buying an additional 414,229 shares during the last quarter. 72.41% of the stock is currently owned by hedge funds and other institutional investors.

About Coherus BioSciences

Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is engaged in the business of developing and commercializing biosimilar products. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta) and bevacizumab (Avastin); Immunology (Anti-TNF) biosimilar candidates etanercept (Enbrel) and adalimumab (Humira); Ophthalmology biosimilar candidate ranibizumab (Lucentis), and Multiple sclerosis small molecule therapeutic candidate, CHS-131.

Earnings History for Coherus BioSciences (NASDAQ:CHRS)

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