Barclays PLC Purchases 47,315 Shares of Coherus Biosciences Inc (NASDAQ:CHRS)

Barclays PLC lifted its position in Coherus Biosciences Inc (NASDAQ:CHRS) by 118.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,220 shares of the biotechnology company’s stock after purchasing an additional 47,315 shares during the period. Barclays PLC’s holdings in Coherus Biosciences were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. lifted its stake in shares of Coherus Biosciences by 45.5% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 137,591 shares of the biotechnology company’s stock valued at $3,041,000 after buying an additional 43,005 shares in the last quarter. Cadence Capital Management LLC purchased a new position in shares of Coherus Biosciences in the third quarter valued at about $2,634,000. California Public Employees Retirement System lifted its position in shares of Coherus Biosciences by 515.2% in the third quarter. California Public Employees Retirement System now owns 114,650 shares of the biotechnology company’s stock valued at $2,323,000 after acquiring an additional 96,014 shares in the last quarter. Calamos Advisors LLC purchased a new position in shares of Coherus Biosciences in the second quarter valued at about $972,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Coherus Biosciences by 300.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 85,400 shares of the biotechnology company’s stock worth $1,835,000 after acquiring an additional 64,100 shares during the period. 99.08% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Jean-Frederic Viret sold 3,159 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $19.59, for a total value of $61,884.81. Following the sale, the chief financial officer now owns 6,462 shares in the company, valued at $126,590.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dennis M. Lanfear sold 825,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $18.00, for a total transaction of $14,850,000.00. Following the completion of the sale, the chief executive officer now owns 125,017 shares in the company, valued at approximately $2,250,306. The disclosure for this sale can be found here. Insiders sold 847,217 shares of company stock worth $15,281,972 over the last quarter. 18.20% of the stock is owned by company insiders.

Shares of CHRS stock opened at $18.15 on Friday. The company’s fifty day simple moving average is $18.26 and its two-hundred day simple moving average is $19.51. Coherus Biosciences Inc has a 52 week low of $8.32 and a 52 week high of $23.91. The stock has a market cap of $1.27 billion, a P/E ratio of -5.64 and a beta of 2.88. The company has a quick ratio of 3.25, a current ratio of 3.34 and a debt-to-equity ratio of 3.37.

Coherus Biosciences (NASDAQ:CHRS) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.27. The firm had revenue of $111.68 million for the quarter, compared to analysts’ expectations of $93.58 million. On average, analysts anticipate that Coherus Biosciences Inc will post 1.36 EPS for the current fiscal year.

Several research firms recently issued reports on CHRS. ValuEngine cut Coherus Biosciences from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 10th. BidaskClub cut Coherus Biosciences from a “hold” rating to a “sell” rating in a report on Wednesday, October 16th. Mizuho initiated coverage on Coherus Biosciences in a research note on Wednesday, November 27th. They issued a “buy” rating and a $43.00 price target for the company. Zacks Investment Research upgraded Coherus Biosciences from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Thursday, November 7th. Finally, TheStreet raised shares of Coherus Biosciences from a “d-” rating to a “c-” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $30.29.

Coherus Biosciences Profile

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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Institutional Ownership by Quarter for Coherus Biosciences (NASDAQ:CHRS)

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