$123.60 Million in Sales Expected for Coherus Biosciences Inc (NASDAQ:CHRS) This Quarter

Equities research analysts expect Coherus Biosciences Inc (NASDAQ:CHRS) to post sales of $123.60 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Coherus Biosciences’ earnings, with estimates ranging from $117.72 million to $129.79 million. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 27th.

On average, analysts expect that Coherus Biosciences will report full year sales of $355.61 million for the current year, with estimates ranging from $349.94 million to $362.00 million. For the next financial year, analysts expect that the firm will report sales of $437.01 million, with estimates ranging from $394.60 million to $475.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Coherus Biosciences.

Coherus Biosciences (NASDAQ:CHRS) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.27. The company had revenue of $111.68 million during the quarter, compared to analysts’ expectations of $93.58 million.

Several brokerages have commented on CHRS. Mizuho started coverage on shares of Coherus Biosciences in a report on Wednesday, November 27th. They issued a “buy” rating and a $43.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $29.00 target price on shares of Coherus Biosciences in a research note on Monday, November 25th. Zacks Investment Research upgraded shares of Coherus Biosciences from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Thursday, November 7th. BidaskClub downgraded shares of Coherus Biosciences from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $36.00 price target on shares of Coherus Biosciences in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company. Coherus Biosciences has an average rating of “Buy” and a consensus price target of $30.29.

Coherus Biosciences stock traded down $0.73 during mid-day trading on Friday, reaching $17.57. 1,486,990 shares of the company traded hands, compared to its average volume of 996,377. The company has a debt-to-equity ratio of 3.37, a current ratio of 3.34 and a quick ratio of 3.25. The firm’s 50 day moving average price is $18.27 and its 200 day moving average price is $19.51. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -5.46 and a beta of 2.88. Coherus Biosciences has a 52-week low of $8.32 and a 52-week high of $23.91.

In related news, CFO Jean-Frederic Viret sold 3,159 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $20.44, for a total value of $64,569.96. Following the completion of the transaction, the chief financial officer now owns 11,672 shares of the company’s stock, valued at approximately $238,575.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dennis M. Lanfear sold 825,000 shares of Coherus Biosciences stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $18.00, for a total value of $14,850,000.00. Following the completion of the transaction, the chief executive officer now owns 125,017 shares of the company’s stock, valued at approximately $2,250,306. The disclosure for this sale can be found here. Insiders have sold a total of 847,217 shares of company stock valued at $15,281,972 over the last quarter. Corporate insiders own 18.20% of the company’s stock.

Several large investors have recently bought and sold shares of CHRS. Cutler Group LP bought a new position in Coherus Biosciences in the third quarter worth about $32,000. Tower Research Capital LLC TRC purchased a new position in Coherus Biosciences during the 3rd quarter worth $52,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Coherus Biosciences in the 2nd quarter worth $75,000. Aperio Group LLC acquired a new stake in shares of Coherus Biosciences in the 2nd quarter worth $80,000. Finally, Bank of Montreal Can purchased a new stake in shares of Coherus Biosciences in the second quarter valued at about $114,000. 99.08% of the stock is owned by institutional investors and hedge funds.

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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