Coherus Biosciences Inc (NASDAQ:CHRS) Given Consensus Rating of “Buy” by Brokerages

Shares of Coherus Biosciences Inc (NASDAQ:CHRS) have received a consensus recommendation of “Buy” from the ten brokerages that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $32.57.

A number of research analysts have commented on CHRS shares. Zacks Investment Research downgraded shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. BidaskClub downgraded shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. HC Wainwright restated a “buy” rating and issued a $29.00 price target (up from $28.00) on shares of Coherus Biosciences in a research report on Friday, August 2nd. ValuEngine downgraded shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Barclays set a $31.00 price target on shares of Coherus Biosciences and gave the stock a “buy” rating in a research report on Monday, August 12th.

In other Coherus Biosciences news, CFO Jean-Frederic Viret sold 6,826 shares of the firm’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $19.85, for a total transaction of $135,496.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Healy sold 360,000 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $22.30, for a total transaction of $8,028,000.00. Following the transaction, the director now directly owns 92 shares in the company, valued at approximately $2,051.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 898,274 shares of company stock worth $19,640,348. Corporate insiders own 18.20% of the company’s stock.



A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Coherus Biosciences by 10.6% during the 2nd quarter. BlackRock Inc. now owns 5,037,431 shares of the biotechnology company’s stock valued at $111,327,000 after buying an additional 483,541 shares during the period. Vanguard Group Inc. increased its stake in Coherus Biosciences by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,958,583 shares of the biotechnology company’s stock valued at $65,384,000 after buying an additional 87,091 shares during the period. Rock Springs Capital Management LP increased its stake in Coherus Biosciences by 180.6% during the 2nd quarter. Rock Springs Capital Management LP now owns 1,880,000 shares of the biotechnology company’s stock valued at $41,548,000 after buying an additional 1,210,000 shares during the period. Nuveen Asset Management LLC acquired a new position in Coherus Biosciences during the 2nd quarter valued at about $25,695,000. Finally, Northern Trust Corp increased its stake in Coherus Biosciences by 4.8% during the 2nd quarter. Northern Trust Corp now owns 696,453 shares of the biotechnology company’s stock valued at $15,392,000 after buying an additional 31,834 shares during the period. 95.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CHRS traded up $0.09 on Friday, hitting $20.03. The company’s stock had a trading volume of 72,645 shares, compared to its average volume of 828,527. Coherus Biosciences has a 12-month low of $8.32 and a 12-month high of $23.43. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -6.22 and a beta of 2.96. The stock has a 50 day moving average of $19.84 and a 200-day moving average of $17.77.

Coherus Biosciences (NASDAQ:CHRS) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.40. The business had revenue of $83.43 million during the quarter, compared to analysts’ expectations of $81.05 million. On average, sell-side analysts forecast that Coherus Biosciences will post 0.89 earnings per share for the current fiscal year.

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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Analyst Recommendations for Coherus Biosciences (NASDAQ:CHRS)

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