Coherus Biosciences (NASDAQ:CHRS) Given Buy Rating at Maxim Group
Maxim Group restated their buy rating on shares of Coherus Biosciences (NASDAQ:CHRS) in a report released on Wednesday, AnalystRatings.com reports. They currently have a $25.00 price objective on the biotechnology company’s stock.
“Coherus announced preliminary net sales on UDENYCA of $79M-$84M suggesting swift uptake. This is more than double the 1Q19 figure of $37M. Despite the increase in sales, CHRS shares were down over 13% yesterday.”,” Maxim Group’s analyst wrote.
Other equities research analysts have also recently issued reports about the company. BidaskClub cut Walgreens Boots Alliance from a sell rating to a strong sell rating in a research note on Monday, June 24th. Barclays lifted their price objective on from GBX 200 ($2.61) to GBX 210 ($2.74) and gave the stock an equal weight rating in a research note on Friday, June 21st. Zacks Investment Research cut HEXO from a hold rating to a sell rating in a research note on Wednesday, May 15th. ValuEngine cut Zymeworks from a buy rating to a hold rating in a research note on Saturday, May 18th. Finally, Robert W. Baird set a $28.00 price objective on Coherus Biosciences and gave the stock a buy rating in a research note on Wednesday, June 19th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $29.14.
Coherus Biosciences (NASDAQ:CHRS) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.16. The company had revenue of $37.10 million for the quarter, compared to analyst estimates of $36.83 million. As a group, equities analysts predict that Coherus Biosciences will post -0.46 EPS for the current year.
In other Coherus Biosciences news, Director James Healy sold 360,000 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $22.30, for a total value of $8,028,000.00. Following the completion of the transaction, the director now directly owns 92 shares of the company’s stock, valued at $2,051.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jean-Frederic Viret sold 6,826 shares of the business’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $19.85, for a total value of $135,496.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,174,224 shares of company stock valued at $25,317,332. Insiders own 18.20% of the company’s stock.
Several institutional investors have recently modified their holdings of CHRS. Legal & General Group Plc lifted its holdings in shares of Coherus Biosciences by 12.3% in the fourth quarter. Legal & General Group Plc now owns 9,095 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 998 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Coherus Biosciences in the first quarter valued at about $108,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Coherus Biosciences by 107,870.0% in the first quarter. BNP Paribas Arbitrage SA now owns 10,797 shares of the biotechnology company’s stock valued at $147,000 after purchasing an additional 10,787 shares in the last quarter. Ellis Investment Partners LLC bought a new stake in shares of Coherus Biosciences in the first quarter valued at about $155,000. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Coherus Biosciences in the second quarter valued at about $225,000. Institutional investors own 99.18% of the company’s stock.
Coherus Biosciences Company Profile
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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