Jupiter Asset Management Ltd. cut its holdings in Coherus BioSciences, Inc. (NASDAQ:CHRS) by 69.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,344 shares of the biotechnology company’s stock after selling 315,868 shares during the quarter. Jupiter Asset Management Ltd. owned 0.18% of Coherus BioSciences worth $2,207,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in CHRS. BlackRock Inc. raised its stake in Coherus BioSciences by 7.2% during the 2nd quarter. BlackRock Inc. now owns 12,020,457 shares of the biotechnology company’s stock valued at $166,245,000 after buying an additional 810,277 shares during the last quarter. State Street Corp raised its stake in Coherus BioSciences by 5.0% during the 2nd quarter. State Street Corp now owns 5,074,141 shares of the biotechnology company’s stock valued at $70,175,000 after buying an additional 241,760 shares during the last quarter. Vanguard Group Inc. raised its stake in Coherus BioSciences by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,475,604 shares of the biotechnology company’s stock valued at $61,897,000 after buying an additional 214,504 shares during the last quarter. Geode Capital Management LLC raised its stake in Coherus BioSciences by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,183,568 shares of the biotechnology company’s stock valued at $16,368,000 after buying an additional 84,257 shares during the last quarter. Finally, Citigroup Inc. raised its stake in Coherus BioSciences by 9.2% during the 2nd quarter. Citigroup Inc. now owns 854,309 shares of the biotechnology company’s stock valued at $11,815,000 after buying an additional 71,811 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on CHRS shares. HC Wainwright reduced their price objective on Coherus BioSciences from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, November 9th. Zacks Investment Research upgraded Coherus BioSciences from a “sell” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $24.40.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Sunday, November 7th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.12). Coherus BioSciences had a negative return on equity of 133.21% and a negative net margin of 63.72%. The business had revenue of $82.50 million during the quarter, compared to analysts’ expectations of $86.96 million. During the same quarter in the previous year, the company posted $0.33 EPS. Equities research analysts anticipate that Coherus BioSciences, Inc. will post -2.58 EPS for the current year.
Coherus BioSciences Profile
Coherus BioSciences, Inc is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of biosimilar therapeutics. Its products include UDENYCA and Coherus COMPLETE. The company was founded by Dennis M. Lanfear, Stuart E. Builder, Dr. Alan Herman, Doug Farrar and Steve Glover in September 2010 and is headquartered in Redwood City, CA.
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