Coherus BioSciences (NASDAQ:CHRS) Announces Earnings Results, Beats Expectations By $0.17 EPS

Coherus BioSciences (NASDAQ:CHRSGet Rating) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.17, Fidelity Earnings reports. Coherus BioSciences had a negative return on equity of 211.68% and a negative net margin of 69.24%. During the same quarter in the previous year, the firm earned ($0.40) earnings per share.

Coherus BioSciences Stock Performance

CHRS traded up $1.25 during midday trading on Friday, reaching $11.83. The company had a trading volume of 1,711,200 shares, compared to its average volume of 983,330. The company has a quick ratio of 3.09, a current ratio of 3.33 and a debt-to-equity ratio of 33.47. Coherus BioSciences has a 1 year low of $5.60 and a 1 year high of $19.32. The business has a 50-day moving average of $7.82 and a two-hundred day moving average of $10.00. The company has a market cap of $915.91 million, a P/E ratio of -4.33 and a beta of 1.19.

Institutional Trading of Coherus BioSciences

Institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors grew its position in shares of Coherus BioSciences by 1,461.0% during the first quarter. Captrust Financial Advisors now owns 2,404 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 2,250 shares in the last quarter. Point72 Hong Kong Ltd grew its position in shares of Coherus BioSciences by 75.6% during the first quarter. Point72 Hong Kong Ltd now owns 13,097 shares of the biotechnology company’s stock worth $169,000 after purchasing an additional 5,639 shares in the last quarter. Natixis Advisors L.P. grew its position in shares of Coherus BioSciences by 16.0% during the first quarter. Natixis Advisors L.P. now owns 19,460 shares of the biotechnology company’s stock worth $251,000 after purchasing an additional 2,687 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Coherus BioSciences during the first quarter worth about $352,000. Finally, Quantedge Capital Pte Ltd purchased a new stake in shares of Coherus BioSciences during the first quarter worth about $364,000. Hedge funds and other institutional investors own 97.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CHRS. UBS Group began coverage on Coherus BioSciences in a research report on Monday, June 13th. They set a “neutral” rating and a $7.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Coherus BioSciences in a research report on Tuesday, May 3rd. Mizuho reduced their price target on Coherus BioSciences from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 20th. Finally, Barclays reduced their price target on Coherus BioSciences from $20.00 to $15.00 in a research report on Monday, May 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Coherus BioSciences Company Profile

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Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the biosimilar and immuno-oncology market primarily in the United States. The company markets UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte stimulating colony factor in the United States. Its pipeline products include biosimilars of Humira, Avastin, and Lucentis.

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Earnings History for Coherus BioSciences (NASDAQ:CHRS)

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