Coherus Biosciences (CHRS) Upgraded to “Buy” by BidaskClub
BidaskClub upgraded shares of Coherus Biosciences (NASDAQ:CHRS) from a hold rating to a buy rating in a report issued on Friday.
A number of other equities analysts also recently commented on CHRS. Zacks Investment Research upgraded shares of Coherus Biosciences from a sell rating to a hold rating in a research note on Tuesday, May 15th. ValuEngine upgraded shares of Coherus Biosciences from a hold rating to a buy rating in a research note on Thursday, June 21st. Finally, Maxim Group set a $18.00 target price on shares of Coherus Biosciences and gave the stock a buy rating in a research note on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Coherus Biosciences presently has an average rating of Buy and a consensus price target of $25.20.
Shares of NASDAQ:CHRS opened at $18.90 on Friday. The stock has a market cap of $1.31 billion, a P/E ratio of -4.22 and a beta of 3.68. Coherus Biosciences has a 12 month low of $8.05 and a 12 month high of $19.60. The company has a debt-to-equity ratio of 1.66, a quick ratio of 7.79 and a current ratio of 7.79.
In other Coherus Biosciences news, CFO Jean-Frederic Viret sold 9,291 shares of the company’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $18.56, for a total value of $172,440.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Barbara K. Finck sold 1,760 shares of the company’s stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $15.00, for a total transaction of $26,400.00. The disclosure for this sale can be found here. Insiders sold a total of 14,571 shares of company stock worth $258,734 over the last 90 days. Insiders own 26.28% of the company’s stock.
A number of hedge funds have recently modified their holdings of CHRS. Wells Fargo & Company MN grew its stake in Coherus Biosciences by 2.7% in the 1st quarter. Wells Fargo & Company MN now owns 218,448 shares of the biotechnology company’s stock worth $2,413,000 after acquiring an additional 5,658 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Coherus Biosciences during the first quarter valued at approximately $390,000. Swiss National Bank boosted its stake in shares of Coherus Biosciences by 13.5% during the first quarter. Swiss National Bank now owns 65,500 shares of the biotechnology company’s stock valued at $724,000 after purchasing an additional 7,800 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Coherus Biosciences by 11.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 211,070 shares of the biotechnology company’s stock valued at $2,333,000 after purchasing an additional 21,373 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Coherus Biosciences by 1.9% during the first quarter. Northern Trust Corp now owns 477,300 shares of the biotechnology company’s stock valued at $5,274,000 after purchasing an additional 8,760 shares in the last quarter. Institutional investors and hedge funds own 82.70% of the company’s stock.
About Coherus Biosciences
Coherus BioSciences, Inc, a biosimilar company, develops and commercializes various therapeutic products worldwide. The company engages in the development of late-stage clinical products, including CHS-1701 pegfilgrastim biosimilar, a granulocyte colony-stimulating factor product candidate; CHS-1420 adalimumab biosimilar, an anti-tumor necrosis factor product candidate; and CHS-0214, an etanercept biosimilar for rheumatoid arthritis and psoriasis.
Further Reading: How are Outstanding Shares Different from Authorized Shares?
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