Coherus BioSciences, Inc. (CHRS) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) from a buy rating to a hold rating in a research report released on Tuesday morning.
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. “
Other analysts also recently issued reports about the company. Cowen and Company reissued an outperform rating and issued a $45.00 target price on shares of Coherus BioSciences in a research report on Friday, September 8th. J P Morgan Chase & Co reissued an overweight rating and issued a $25.00 target price (down from $32.00) on shares of Coherus BioSciences in a research report on Tuesday, August 8th. ValuEngine raised Coherus BioSciences from a strong sell rating to a sell rating in a research report on Friday, September 1st. Robert W. Baird decreased their target price on Coherus BioSciences from $40.00 to $37.00 and set an outperform rating for the company in a research report on Tuesday, June 13th. Finally, Maxim Group reissued a buy rating and issued a $20.00 target price (down from $40.00) on shares of Coherus BioSciences in a research report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Coherus BioSciences presently has an average rating of Buy and an average price target of $32.70.
Shares of Coherus BioSciences (CHRS) traded up 0.78% on Tuesday, reaching $13.00. The company’s stock had a trading volume of 1,487,788 shares. The stock’s market cap is $667.50 million. The firm’s 50 day moving average is $13.03 and its 200-day moving average is $17.60. Coherus BioSciences has a 52-week low of $10.80 and a 52-week high of $31.78.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($1.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.29) by $0.21. The business had revenue of $1.40 million for the quarter. Coherus BioSciences had a negative return on equity of 307.41% and a negative net margin of 73.89%. On average, equities research analysts forecast that Coherus BioSciences will post ($5.13) EPS for the current year.
In other news, insider Alan C. Herman sold 17,535 shares of Coherus BioSciences stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $15.02, for a total value of $263,375.70. Following the completion of the transaction, the insider now directly owns 49,651 shares in the company, valued at $745,758.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 26.28% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of Coherus BioSciences by 32.7% in the second quarter. SG Americas Securities LLC now owns 7,244 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 1,785 shares in the last quarter. Legal & General Group Plc grew its position in shares of Coherus BioSciences by 12.6% in the second quarter. Legal & General Group Plc now owns 9,341 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 1,046 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Coherus BioSciences in the second quarter valued at $185,000. Boston Advisors LLC purchased a new position in shares of Coherus BioSciences in the second quarter valued at $244,000. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Coherus BioSciences in the first quarter valued at $246,000. Institutional investors own 78.19% of the company’s stock.
About Coherus BioSciences
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is engaged in the business of developing and commercializing biosimilar products. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta) and bevacizumab (Avastin); Immunology (Anti-TNF) biosimilar candidates etanercept (Enbrel) and adalimumab (Humira); Ophthalmology biosimilar candidate ranibizumab (Lucentis), and Multiple sclerosis small molecule therapeutic candidate, CHS-131.
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