Coherus BioSciences Inc. (CHRS) Insider Dennis M. Lanfear Sells 2,900 Shares of Stock
Coherus BioSciences Inc. (NASDAQ:CHRS) insider Dennis M. Lanfear sold 2,900 shares of Coherus BioSciences stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $31.79, for a total value of $92,191.00. Following the completion of the sale, the insider now directly owns 71,635 shares in the company, valued at approximately $2,277,276.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Coherus BioSciences Inc. (NASDAQ:CHRS) opened at 30.75 on Thursday. Coherus BioSciences Inc. has a 52-week low of $12.04 and a 52-week high of $31.98. The stock’s 50 day moving average price is $29.90 and its 200 day moving average price is $22.25. The company’s market cap is $1.33 billion.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Tuesday, August 9th. The company reported ($1.72) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.40. Coherus BioSciences had a negative return on equity of 1,583.92% and a negative net margin of 591.61%. The company earned $14.07 million during the quarter, compared to analysts’ expectations of $6.87 million. Analysts expect that Coherus BioSciences Inc. will post ($6.19) earnings per share for the current year.
CHRS has been the topic of a number of research reports. Zacks Investment Research downgraded Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Monday, August 15th. Barclays PLC reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Coherus BioSciences in a research note on Thursday, August 11th. Citigroup Inc. initiated coverage on Coherus BioSciences in a research note on Wednesday, July 27th. They issued a “buy” rating and a $36.00 price objective on the stock. Maxim Group initiated coverage on Coherus BioSciences in a research note on Wednesday, September 7th. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, Credit Suisse Group AG set a $38.00 target price on Coherus BioSciences and gave the company a “buy” rating in a research report on Saturday, September 17th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Coherus BioSciences presently has a consensus rating of “Buy” and a consensus price target of $36.50.
A number of institutional investors have recently modified their holdings of the company. FMR LLC increased its position in shares of Coherus BioSciences by 9.0% in the second quarter. FMR LLC now owns 6,396,228 shares of the company’s stock worth $108,032,000 after buying an additional 530,715 shares in the last quarter. Kohlberg Kravis Roberts & Co. L.P. acquired a new position in shares of Coherus BioSciences during the second quarter worth about $51,600,000. JPMorgan Chase & Co. increased its position in shares of Coherus BioSciences by 28.2% in the first quarter. JPMorgan Chase & Co. now owns 2,122,551 shares of the company’s stock worth $45,062,000 after buying an additional 466,388 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Coherus BioSciences by 13.3% in the second quarter. BlackRock Fund Advisors now owns 1,268,735 shares of the company’s stock worth $21,429,000 after buying an additional 148,600 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Coherus BioSciences by 53.7% in the second quarter. Vanguard Group Inc. now owns 1,008,298 shares of the company’s stock worth $17,030,000 after buying an additional 352,103 shares in the last quarter. Institutional investors own 58.37% of the company’s stock.
About Coherus BioSciences
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is focused on the global biosimilar market. The Company operates through developing and commercializing biosimilar products segment. Its business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta), in late clinical-stage, and bevacizumab (Avastin), in preclinical-stage; Immunology (Anti-TNF) biosimilar candidates, etanercept (Enbrel) and adalimumab (Humira), which are both in late clinical-stage; Ophthalmology biosimilar candidate ranibizumab (Lucentis) in preclinical stage, and Multiple sclerosis small molecule therapeutic candidate, CHS-131 (formerly INT-131), in Phase II proof-of-concept trial.
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