Coherus Biosciences (CHRS) Raised to “Buy” at Zacks Investment Research

Coherus Biosciences (NASDAQ:CHRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The firm currently has a $19.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s target price points to a potential upside of 10.53% from the company’s previous close.

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. “

CHRS has been the topic of a number of other research reports. Credit Suisse Group set a $25.00 target price on Coherus Biosciences and gave the company a “buy” rating in a research report on Thursday, March 7th. BidaskClub upgraded Coherus Biosciences from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Maxim Group set a $25.00 target price on Coherus Biosciences and gave the company a “buy” rating in a research report on Friday, May 10th. HC Wainwright initiated coverage on Coherus Biosciences in a research report on Tuesday, May 7th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, ValuEngine upgraded Coherus Biosciences from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Eight equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus price target of $28.33.

Coherus Biosciences stock traded up $0.32 during midday trading on Wednesday, reaching $17.19. The company’s stock had a trading volume of 417,141 shares, compared to its average volume of 817,026. Coherus Biosciences has a 52 week low of $8.32 and a 52 week high of $20.66. The company has a quick ratio of 2.49, a current ratio of 3.84 and a debt-to-equity ratio of 8.29. The stock has a market cap of $1.18 billion, a PE ratio of -5.34 and a beta of 3.64.

Coherus Biosciences (NASDAQ:CHRS) last released its earnings results on Thursday, February 28th. The biotechnology company reported ($0.92) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.82) by ($0.10). As a group, analysts expect that Coherus Biosciences will post -1.18 earnings per share for the current year.

In other news, CFO Jean-Frederic Viret sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $14.92, for a total transaction of $44,760.00. Following the sale, the chief financial officer now directly owns 13,185 shares in the company, valued at $196,720.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 18.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in shares of 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 purchasing an additional 998 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Coherus Biosciences by 6.8% during the first quarter. The Manufacturers Life Insurance Company now owns 34,519 shares of the biotechnology company’s stock worth $471,000 after purchasing an additional 2,186 shares during the last quarter. Swiss National Bank grew its holdings in shares of Coherus Biosciences by 3.3% during the first quarter. Swiss National Bank now owns 80,600 shares of the biotechnology company’s stock worth $1,099,000 after purchasing an additional 2,600 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Coherus Biosciences by 16.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 22,095 shares of the biotechnology company’s stock worth $200,000 after purchasing an additional 3,122 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Coherus Biosciences by 20.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 21,300 shares of the biotechnology company’s stock worth $426,000 after purchasing an additional 3,600 shares during the last quarter. Institutional investors own 96.20% 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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