Coherus BioSciences, Inc. (NASDAQ:CHRS) Stock Price Down 1.3% on Insider Selling
Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) dropped 1.3% during mid-day trading on Friday following insider selling activity. The stock traded as low as $10.80 and last traded at $11.68, with a volume of 224,272 shares. The stock had previously closed at $11.53.
Specifically, insider Alan C. Herman sold 17,535 shares of the firm’s stock in a transaction dated 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 owns 49,651 shares in the company, valued at approximately $745,758.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 32.88% of the stock is owned by company insiders.
CHRS has been the subject of several analyst reports. Citigroup Inc. set a $38.00 price objective on Coherus BioSciences and gave the company a “buy” rating in a report on Wednesday, May 17th. BMO Capital Markets initiated coverage on Coherus BioSciences in a report on Friday, May 5th. They issued an “outperform” rating and a $54.00 price objective for the company. Maxim Group set a $43.00 price objective on Coherus BioSciences and gave the company a “buy” rating in a report on Monday, May 15th. Barclays PLC reiterated an “overweight” rating and set a $46.00 price target on shares of Coherus BioSciences in a report on Sunday, May 21st. Finally, ValuEngine upgraded Coherus BioSciences from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $35.90.
The firm’s market capitalization is $602.03 million. The company has a 50-day moving average price of $13.73 and a 200-day moving average price of $19.70.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Monday, August 7th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.21. The business had revenue of $1.40 million during the quarter. Coherus BioSciences had a negative net margin of 73.89% and a negative return on equity of 307.41%. On average, equities analysts forecast that Coherus BioSciences, Inc. will post ($5.13) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Trexquant Investment LP bought a new stake in shares of Coherus BioSciences during the first quarter worth approximately $319,000. BlueCrest Capital Management Ltd bought a new stake in shares of Coherus BioSciences during the first quarter worth approximately $246,000. Marshall Wace North America L.P. bought a new stake in shares of Coherus BioSciences during the first quarter worth approximately $1,331,000. UBS Asset Management Americas Inc. raised its stake in shares of Coherus BioSciences by 2,562.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 501,673 shares of the biotechnology company’s stock worth $14,121,000 after buying an additional 482,828 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Coherus BioSciences by 39.9% in the first quarter. Swiss National Bank now owns 52,200 shares of the biotechnology company’s stock worth $1,104,000 after buying an additional 14,900 shares in the last quarter. 72.07% of the stock is owned by institutional investors and hedge funds.
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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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