Coherus Biosciences (CHRS) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Coherus Biosciences (NASDAQ:CHRS) from a hold rating to a sell rating in a report published on Wednesday.

According to Zacks, “Coherus Biosciences, Inc. is a biologics platform company developing biosimilar therapeutics. Its clinical stage pipeline consists of CHS-0214 in two Phase III clinical trials for the treatment of rheumatoid arthritis and psoriasis; CHS-1420 that has completed a Phase I study to treat psoriasis or rheumatoid arthritis; and CHS-1701 which has completed a Phase I study for the treatment of breast cancer patients. Coherus Biosciences, Inc. is headquartered in Redwood City, California. “

Several other brokerages also recently issued reports on CHRS. Maxim Group reiterated a buy rating and issued a $25.00 price target on shares of Coherus Biosciences in a report on Tuesday, September 25th. HC Wainwright set a $28.00 price target on Coherus Biosciences and gave the company a buy rating in a report on Wednesday, September 26th. BidaskClub cut shares of Coherus Biosciences from a sell rating to a strong sell rating in a research report on Tuesday, October 9th. Cowen reissued a buy rating and issued a $45.00 price objective on shares of Coherus Biosciences in a research report on Friday, November 2nd. Finally, ValuEngine cut shares of Coherus Biosciences from a buy rating to a hold rating in a research report on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $27.20.

Shares of NASDAQ CHRS opened at $11.06 on Wednesday. Coherus Biosciences has a 12-month low of $8.20 and a 12-month high of $20.66. The company has a debt-to-equity ratio of 8.29, a quick ratio of 5.31 and a current ratio of 5.31.

Coherus Biosciences (NASDAQ:CHRS) last announced its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.08). On average, equities research analysts anticipate that Coherus Biosciences will post -3.12 EPS for the current year.

In other Coherus Biosciences news, insider Barbara K. Finck sold 1,760 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $18.58, for a total value of $32,700.80. Following the completion of the transaction, the insider now directly owns 38,803 shares of the company’s stock, valued at approximately $720,959.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 26.28% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Swiss National Bank boosted its position in Coherus Biosciences by 7.6% in the 2nd quarter. Swiss National Bank now owns 70,500 shares of the biotechnology company’s stock valued at $987,000 after buying an additional 5,000 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Coherus Biosciences by 26.2% during the first quarter. Royal Bank of Canada now owns 32,526 shares of the biotechnology company’s stock worth $360,000 after purchasing an additional 6,754 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Coherus Biosciences during the second quarter worth about $118,000. Bank of New York Mellon Corp lifted its position in shares of Coherus Biosciences by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 186,287 shares of the biotechnology company’s stock worth $2,608,000 after purchasing an additional 9,299 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Coherus Biosciences by 26.9% during the second quarter. Rhumbline Advisers now owns 45,081 shares of the biotechnology company’s stock worth $631,000 after purchasing an additional 9,549 shares during the last quarter. 91.19% of the stock is owned by institutional investors.

Coherus Biosciences Company Profile

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.

Featured Article: Rule of 72

Get a free copy of the Zacks research report on Coherus Biosciences (CHRS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Coherus Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherus Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit