J P Morgan Chase & Co reaffirmed their overweight rating on shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) in a research note issued to investors on Tuesday, August 8th, MarketBeat.com reports. They currently have a $25.00 price objective on the biotechnology company’s stock, down from their prior price objective of $32.00.
Several other equities analysts have also recently weighed in on the company. Citigroup Inc. set a $38.00 price objective on Coherus BioSciences and gave the company a buy rating in a research note on Wednesday, May 17th. BMO Capital Markets started coverage on Coherus BioSciences in a research note on Friday, May 5th. They set an outperform rating and a $54.00 price objective on the stock. Maxim Group set a $43.00 price objective on Coherus BioSciences and gave the company a buy rating in a research note on Monday, May 15th. Barclays PLC restated an overweight rating and set a $46.00 price objective on shares of Coherus BioSciences in a research note on Sunday, May 21st. Finally, ValuEngine raised Coherus BioSciences from a strong sell rating to a sell rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $34.70.
Coherus BioSciences (NASDAQ:CHRS) opened at 11.10 on Tuesday. The firm’s market capitalization is $569.94 million. Coherus BioSciences has a one year low of $10.80 and a one year high of $31.98. The company’s 50-day moving average is $13.09 and its 200-day moving average is $19.03.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings data 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. Coherus BioSciences had a negative return on equity of 307.41% and a negative net margin of 73.89%. The business had revenue of $1.40 million for the quarter. Equities analysts forecast that Coherus BioSciences will post ($5.13) earnings per share for the current fiscal year.
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In other news, insider Alan C. Herman sold 17,535 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $15.02, for a total transaction of $263,375.70. Following the completion of the sale, the insider now directly owns 49,651 shares of the company’s stock, valued at approximately $745,758.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 32.88% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in shares of Coherus BioSciences by 32.7% in the second quarter. SG Americas Securities LLC now owns 7,244 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 1,785 shares during the period. Legal & General Group Plc raised its stake in shares of Coherus BioSciences by 15.9% in the first quarter. Legal & General Group Plc now owns 8,295 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 1,137 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in shares of Coherus BioSciences during the first quarter valued at $246,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Coherus BioSciences during the second quarter valued at $185,000. Finally, Trexquant Investment LP purchased a new stake in shares of Coherus BioSciences during the first quarter valued at $319,000. 72.41% of the stock is owned by institutional investors.
Coherus BioSciences Company Profile
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.
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