HC Wainwright Reiterates “$28.00” Price Target for Coherus Biosciences (CHRS)
CHRS has been the topic of several other research reports. Zacks Investment Research upgraded Coherus Biosciences from a hold rating to a buy rating and set a $13.00 price target on the stock in a report on Tuesday, October 30th. BidaskClub cut Coherus Biosciences from a sell rating to a strong sell rating in a report on Tuesday, October 9th. Cowen reiterated a buy rating and issued a $45.00 price target on shares of Coherus Biosciences in a report on Friday, November 2nd. Finally, ValuEngine cut Coherus Biosciences from a strong-buy rating to a buy rating in a report on Friday, September 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $27.20.
Coherus Biosciences stock traded down $0.28 during mid-day trading on Monday, hitting $12.20. The stock had a trading volume of 3,697 shares, compared to its average volume of 898,751. The stock has a market cap of $809.10 million, a price-to-earnings ratio of -2.73 and a beta of 3.72. Coherus Biosciences has a 12 month low of $8.05 and a 12 month high of $20.66. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 1.66.
In other Coherus Biosciences news, Director James Healy sold 25,000 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $20.50, for a total value of $512,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Barbara K. Finck sold 1,760 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $18.58, for a total value of $32,700.80. Following the completion of the transaction, the insider now directly owns 38,803 shares in the company, valued at approximately $720,959.74. The disclosure for this sale can be found here. Insiders sold 28,520 shares of company stock worth $578,676 in the last three months. Insiders own 26.28% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CHRS. Wells Fargo & Company MN grew its position in shares of Coherus Biosciences by 2.7% in the first quarter. Wells Fargo & Company MN now owns 218,448 shares of the biotechnology company’s stock valued at $2,413,000 after purchasing an additional 5,658 shares during the period. Northern Trust Corp grew its position in shares of Coherus Biosciences by 1.9% in 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 during the period. BlackRock Inc. grew its position in shares of Coherus Biosciences by 4.2% in the first quarter. BlackRock Inc. now owns 3,333,724 shares of the biotechnology company’s stock valued at $36,837,000 after purchasing an additional 134,998 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Coherus Biosciences in the first quarter valued at about $115,000. Finally, UBS Group AG grew its position in shares of Coherus Biosciences by 642.1% in the first quarter. UBS Group AG now owns 80,902 shares of the biotechnology company’s stock valued at $894,000 after purchasing an additional 70,000 shares during the period. 91.25% of the stock is currently owned by hedge funds and other institutional investors.
Coherus Biosciences Company Profile
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.
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