Coherus Biosciences (NASDAQ:CHRS) Downgraded by Zacks Investment Research
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. “
Other analysts have also issued reports about the stock. HC Wainwright upped their target price on shares of Applied Genetic Technologies from $5.75 to $12.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. ValuEngine lowered shares of Zymeworks from a buy rating to a hold rating in a research note on Saturday, May 18th. Barclays upped their target price on shares of 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. Robert W. Baird set a $28.00 target price on shares of Coherus Biosciences and gave the stock a buy rating in a research note on Wednesday, June 19th. Finally, BidaskClub lowered shares of Walgreens Boots Alliance from a sell rating to a strong sell rating in a research note on Monday, June 24th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $29.14.
Coherus Biosciences (NASDAQ:CHRS) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.16. The firm had revenue of $37.10 million for the quarter, compared to analysts’ expectations of $36.83 million. As a group, analysts predict that Coherus Biosciences will post -0.46 EPS for the current fiscal year.
In other Coherus Biosciences news, Director James Healy sold 257,870 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $20.69, for a total value of $5,335,330.30. Following the transaction, the director now directly owns 92 shares in the company, valued at $1,903.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dennis M. Lanfear sold 32,398 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $19.49, for a total transaction of $631,437.02. Following the completion of the transaction, the chief executive officer now owns 125,017 shares in the company, valued at $2,436,581.33. The disclosure for this sale can be found here. Insiders sold 1,174,224 shares of company stock worth $25,317,332 over the last quarter. 18.20% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc increased its stake in 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 during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Coherus Biosciences in the first quarter valued at approximately $108,000. BNP Paribas Arbitrage SA boosted 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 acquiring an additional 10,787 shares during the period. Ellis Investment Partners LLC acquired a new stake in shares of Coherus Biosciences in the first quarter valued at approximately $155,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Coherus Biosciences in the second quarter valued at approximately $225,000. Institutional investors own 99.18% of the company’s stock.
About Coherus Biosciences
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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