Maxim Group restated their buy rating on shares of Coherus Biosciences (NASDAQ:CHRS) in a research report released on Wednesday morning, AnalystRatings.com reports. They currently have a $25.00 target price 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.”,” the firm’s analyst commented.
Several other analysts also recently issued reports on the company. BidaskClub downgraded Walgreens Boots Alliance from a sell rating to a strong sell rating in a report on Monday, June 24th. HC Wainwright boosted their price objective on Applied Genetic Technologies from $5.75 to $12.00 and gave the stock a buy rating in a report on Tuesday, May 7th. Barclays boosted their price objective on from GBX 200 ($2.61) to GBX 210 ($2.74) and gave the stock an equal weight rating in a report on Friday, June 21st. Zacks Investment Research downgraded HEXO from a hold rating to a sell rating in a report on Wednesday, May 15th. Finally, Robert W. Baird set a $28.00 price objective on Coherus Biosciences and gave the stock a buy rating in a report on Wednesday, June 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $28.57.
NASDAQ CHRS traded down $0.64 on Wednesday, hitting $19.75. 871,600 shares of the company were exchanged, compared to its average volume of 938,949. The company’s 50 day moving average price is $20.11. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -6.13 and a beta of 3.12. Coherus Biosciences has a twelve month low of $8.32 and a twelve month high of $23.43.
Coherus Biosciences (NASDAQ:CHRS) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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, sell-side analysts expect that Coherus Biosciences will post -1.09 earnings per share for the current year.
In other news, Director James Healy sold 360,000 shares of the company’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 transaction, the director now owns 92 shares in the company, valued at approximately $2,051.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dennis M. Lanfear sold 32,398 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $19.49, for a total value of $631,437.02. Following the completion of the transaction, the chief executive officer now owns 125,017 shares in the company, valued at approximately $2,436,581.33. The disclosure for this sale can be found here. Insiders sold a total of 1,174,224 shares of company stock worth $25,317,332 in the last quarter. 18.20% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of CHRS. Rhumbline Advisers raised its holdings in Coherus Biosciences by 56.1% in the fourth quarter. Rhumbline Advisers now owns 68,251 shares of the biotechnology company’s stock worth $618,000 after purchasing an additional 24,533 shares in the last quarter. First Trust Advisors LP bought a new position in Coherus Biosciences in the fourth quarter worth about $820,000. BlackRock Inc. raised its holdings in Coherus Biosciences by 2.1% in the fourth quarter. BlackRock Inc. now owns 4,722,418 shares of the biotechnology company’s stock worth $42,739,000 after purchasing an additional 94,893 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Coherus Biosciences by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 222,542 shares of the biotechnology company’s stock worth $2,013,000 after purchasing an additional 8,766 shares in the last quarter. Finally, Brown Advisory Inc. raised its holdings in Coherus Biosciences by 1.8% in the fourth quarter. Brown Advisory Inc. now owns 671,103 shares of the biotechnology company’s stock worth $6,074,000 after purchasing an additional 11,837 shares in the last quarter. 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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