Coherus BioSciences (NASDAQ:CHRS) Reaches New 52-Week Low at $12.67

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) reached a new 52-week low during trading on Thursday . The stock traded as low as $12.67 and last traded at $12.67, with a volume of 17135 shares changing hands. The stock had previously closed at $13.12.

Several equities research analysts have weighed in on CHRS shares. Zacks Investment Research cut shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Friday, May 7th. Maxim Group started coverage on shares of Coherus BioSciences in a research note on Friday, May 7th. They set a “buy” rating and a $22.00 price objective for the company. HC Wainwright reduced their price target on shares of Coherus BioSciences from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, May 13th. TheStreet downgraded shares of Coherus BioSciences from a “c” rating to a “d-” rating in a report on Monday, May 17th. Finally, Barclays lowered their price target on shares of Coherus BioSciences from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Monday, May 17th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Coherus BioSciences currently has a consensus rating of “Buy” and an average price target of $24.67.

The stock has a 50 day moving average of $13.76. The company has a market cap of $959.75 million, a P/E ratio of -10.46 and a beta of 1.08. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.40 and a quick ratio of 2.20.

Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings results on Thursday, May 6th. The biotechnology company reported ($2.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($2.46). Coherus BioSciences had a negative net margin of 17.23% and a negative return on equity of 34.76%. The company had revenue of $83.03 million for the quarter, compared to analyst estimates of $97.87 million. Equities analysts predict that Coherus BioSciences, Inc. will post -2.63 EPS for the current fiscal year.

In other Coherus BioSciences news, CFO Mcdavid Stilwell acquired 3,700 shares of the business’s stock in a transaction dated Wednesday, June 9th. The shares were purchased at an average price of $13.42 per share, for a total transaction of $49,654.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dennis M. Lanfear sold 31,054 shares of the stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $13.56, for a total transaction of $421,092.24. Following the completion of the sale, the chief executive officer now owns 493,258 shares in the company, valued at approximately $6,688,578.48. The disclosure for this sale can be found here. Corporate insiders own 12.97% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC increased its stake in shares of Coherus BioSciences by 171.3% in the fourth quarter. Penserra Capital Management LLC now owns 1,655 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 1,045 shares during the period. E Fund Management Co. Ltd. purchased a new stake in Coherus BioSciences during the first quarter worth $125,000. Gotham Asset Management LLC purchased a new stake in Coherus BioSciences during the first quarter worth $150,000. 6 Meridian purchased a new stake in Coherus BioSciences during the first quarter worth $152,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Coherus BioSciences by 36.9% during the first quarter. BNP Paribas Arbitrage SA now owns 11,544 shares of the biotechnology company’s stock worth $169,000 after buying an additional 3,114 shares in the last quarter.

Coherus BioSciences Company Profile (NASDAQ:CHRS)

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the biosimilar and immuno-oncology market primarily in the United States. The company markets UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte stimulating colony factor in the United States. Its product candidate pipeline includes biosimilars of Humira, Avastin, and Lucentis.

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