Coherus Biosciences (CHRS) Upgraded to Hold at Zacks Investment Research
According to Zacks, “Coherus Biosciences, Inc. is a biologics platform company developing biosimilar therapeutics. Its clinical stage pipeline consists of CHS-0214 in two Phase III clinical trials for the treatment of rheumatoid arthritis and psoriasis; CHS-1420 that has completed a Phase I study to treat psoriasis or rheumatoid arthritis; and CHS-1701 which has completed a Phase I study for the treatment of breast cancer patients. Coherus Biosciences, Inc. is headquartered in Redwood City, California. “
Several other research analysts have also recently issued reports on the company. BidaskClub raised Coherus Biosciences from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Credit Suisse Group set a $25.00 price target on Coherus Biosciences and gave the company a “buy” rating in a report on Thursday, March 7th. ValuEngine upgraded shares of Coherus Biosciences from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Coherus Biosciences in a report on Monday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.20.
In related news, CFO Jean-Frederic Viret sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $14.92, for a total transaction of $44,760.00. Following the transaction, the chief financial officer now owns 13,185 shares in the company, valued at $196,720.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 19.57% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc grew its holdings in Coherus Biosciences by 12.3% during the fourth quarter. Legal & General Group Plc now owns 9,095 shares of the biotechnology company’s stock worth $82,000 after acquiring an additional 998 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Coherus Biosciences by 16.5% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 22,095 shares of the biotechnology company’s stock valued at $200,000 after acquiring an additional 3,122 shares during the last quarter. Boston Advisors LLC boosted its position in shares of Coherus Biosciences by 12.7% during the 4th quarter. Boston Advisors LLC now owns 33,060 shares of the biotechnology company’s stock valued at $299,000 after purchasing an additional 3,725 shares in the last quarter. Hound Partners LLC boosted its position in shares of Coherus Biosciences by 0.3% during the 4th quarter. Hound Partners LLC now owns 2,016,827 shares of the biotechnology company’s stock valued at $18,252,000 after purchasing an additional 6,551 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Coherus Biosciences by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 222,542 shares of the biotechnology company’s stock valued at $2,013,000 after purchasing an additional 8,766 shares in the last quarter. 94.79% of the stock is currently owned by institutional investors.
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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