Coherus Biosciences (NASDAQ:CHRS) Downgraded to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of Coherus Biosciences (NASDAQ:CHRS) from a sell rating to a strong sell rating in a research report sent to investors on Saturday morning, BidAskClub reports.

A number of other equities analysts have also issued reports on the company. Credit Suisse Group reissued a buy rating and issued a $36.00 price objective on shares of Coherus Biosciences in a report on Friday, November 8th. Zacks Investment Research raised Coherus Biosciences from a hold rating to a buy rating and set a $18.00 price objective for the company in a report on Thursday, November 7th. HC Wainwright reissued a buy rating and issued a $29.00 price objective on shares of Coherus Biosciences in a report on Monday, November 25th. ValuEngine lowered Coherus Biosciences from a sell rating to a strong sell rating in a report on Thursday, October 10th. Finally, TheStreet raised 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 assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $30.29.

NASDAQ:CHRS opened at $19.89 on Friday. The firm has a market capitalization of $1.39 billion, a PE ratio of -6.18 and a beta of 2.89. The stock has a 50 day moving average of $18.13 and a 200-day moving average of $19.25. Coherus Biosciences has a 52 week low of $10.83 and a 52 week high of $23.91. The company has a current ratio of 3.34, a quick ratio of 3.25 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.27. The business had revenue of $111.68 million during the quarter, compared to the consensus estimate of $93.58 million. As a group, analysts predict that Coherus Biosciences will post 1.36 EPS for the current fiscal year.

In other Coherus Biosciences news, COO Vincent R. Anicetti sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $18.69, for a total value of $46,725.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jean-Frederic Viret sold 3,112 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $18.88, for a total value of $58,754.56. The disclosure for this sale can be found here. Insiders sold 837,659 shares of company stock valued at $15,091,914 over the last 90 days. 18.20% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in CHRS. Cutler Group LP acquired a new stake in shares of Coherus Biosciences during the 3rd quarter valued at $32,000. Tower Research Capital LLC TRC acquired a new stake in shares of Coherus Biosciences during the 3rd quarter valued at $52,000. Hoey Investments Inc. acquired a new stake in shares of Coherus Biosciences during the 4th quarter valued at $66,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Coherus Biosciences during the 2nd quarter valued at $75,000. Finally, Bank of Montreal Can acquired a new stake in shares of Coherus Biosciences during the 2nd quarter valued at $114,000. Institutional investors own 98.62% of the company’s stock.

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.

Featured Article: What is a Tariff?

Analyst Recommendations for Coherus Biosciences (NASDAQ:CHRS)

Receive News & Ratings for Coherus Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherus Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.