Coherus Biosciences (CHRS) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Coherus Biosciences (NASDAQ:CHRS) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.29) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.16, Morningstar.com reports. The firm had revenue of $37.10 million during the quarter, compared to analysts’ expectations of $36.83 million.

Shares of NASDAQ CHRS opened at $17.47 on Friday. The company has a quick ratio of 2.49, a current ratio of 2.54 and a debt-to-equity ratio of 8.29. Coherus Biosciences has a 52 week low of $8.32 and a 52 week high of $20.66. The stock has a market capitalization of $1.12 billion, a P/E ratio of -5.43 and a beta of 3.64.

In related news, CFO Jean-Frederic Viret sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $14.92, for a total value of $44,760.00. Following the completion of the sale, the chief financial officer now owns 13,185 shares in the company, valued at $196,720.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.20% of the stock is owned by company insiders.



Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. acquired a new stake in shares of Coherus Biosciences in the first quarter valued at about $145,000. Swiss National Bank lifted its stake in shares of Coherus Biosciences by 3.3% in the first quarter. Swiss National Bank now owns 80,600 shares of the biotechnology company’s stock valued at $1,099,000 after purchasing an additional 2,600 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Coherus Biosciences by 20.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 21,300 shares of the biotechnology company’s stock valued at $426,000 after purchasing an additional 3,600 shares during the period. Fosun International Ltd lifted its stake in shares of Coherus Biosciences by 193.5% in the first quarter. Fosun International Ltd now owns 192,248 shares of the biotechnology company’s stock valued at $2,641,000 after purchasing an additional 126,748 shares during the period. Finally, Sivik Global Healthcare LLC acquired a new stake in shares of Coherus Biosciences in the first quarter valued at about $3,069,000. Hedge funds and other institutional investors own 94.77% of the company’s stock.

CHRS has been the subject of several recent analyst reports. Robert W. Baird set a $28.00 target price on shares of Coherus Biosciences and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Zacks Investment Research cut shares of Coherus Biosciences from a “hold” rating to a “sell” rating in a research note on Monday, March 25th. ValuEngine cut shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. BidaskClub upgraded shares of Coherus Biosciences from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Finally, Credit Suisse Group set a $25.00 target price on shares of Coherus Biosciences and gave the stock a “buy” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $28.00.

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About Coherus Biosciences

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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Earnings History for Coherus Biosciences (NASDAQ:CHRS)

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