Coherus Biosciences (NASDAQ:CHRS) Rating Increased to Sell at ValuEngine

Coherus Biosciences (NASDAQ:CHRS) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Monday, ValuEngine reports.

CHRS has been the subject of a number of other reports. SunTrust Banks initiated coverage on shares of Coherus Biosciences in a research note on Friday, April 17th. They set a “buy” rating and a $26.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Coherus Biosciences in a research report on Friday, May 8th. TheStreet upgraded Coherus Biosciences from a “d+” rating to a “c-” rating in a research report on Friday, March 20th. Maxim Group initiated coverage on Coherus Biosciences in a research note on Saturday, May 9th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, BidaskClub downgraded shares of Coherus Biosciences from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Two analysts have rated the stock with a sell rating and eight have assigned a buy rating to the stock. Coherus Biosciences has an average rating of “Buy” and an average price target of $30.88.

Shares of CHRS stock opened at $17.33 on Monday. The stock has a market cap of $1.23 billion, a P/E ratio of 8.84 and a beta of 2.05. The company has a quick ratio of 3.18, a current ratio of 3.32 and a debt-to-equity ratio of 1.21. Coherus Biosciences has a fifty-two week low of $10.86 and a fifty-two week high of $23.91. The business has a fifty day simple moving average of $17.46 and a 200-day simple moving average of $17.77.

Coherus Biosciences (NASDAQ:CHRS) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.10. The firm had revenue of $116.18 million for the quarter, compared to analysts’ expectations of $116.25 million. Coherus Biosciences had a net margin of 33.42% and a return on equity of 190.82%. On average, sell-side analysts anticipate that Coherus Biosciences will post 1.31 earnings per share for the current year.

In related news, Director Mary T. Szela sold 54,997 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $17.58, for a total value of $966,847.26. Following the completion of the sale, the director now directly owns 14,997 shares in the company, valued at $263,647.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Vincent R. Anicetti sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.22, for a total transaction of $43,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,925 shares of company stock valued at $4,627,867. Company insiders own 15.86% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CHRS. Charles Schwab Investment Management Inc. increased its holdings in shares of Coherus Biosciences by 75.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 664,993 shares of the biotechnology company’s stock worth $11,974,000 after buying an additional 285,108 shares during the last quarter. Oxford Asset Management LLP purchased a new stake in Coherus Biosciences during the fourth quarter valued at about $1,109,000. Massachusetts Financial Services Co. MA increased its stake in Coherus Biosciences by 18.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 132,999 shares of the biotechnology company’s stock worth $2,157,000 after acquiring an additional 21,050 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Coherus Biosciences by 68.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 267,150 shares of the biotechnology company’s stock worth $4,810,000 after purchasing an additional 109,019 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Coherus Biosciences by 293.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,178,030 shares of the biotechnology company’s stock valued at $39,215,000 after purchasing an additional 1,623,851 shares in the last quarter.

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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