Brokerages forecast that Coherus BioSciences, Inc. (NASDAQ:CHRS) will report sales of $88.85 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Coherus BioSciences' earnings. The lowest sales estimate is $85.72 million and the highest is $93.90 million. Coherus BioSciences posted sales of $135.67 million in the same quarter last year, which suggests a negative year over year growth rate of 34.5%. The firm is expected to report its next quarterly earnings results on Thursday, August 5th.
On average, analysts expect that Coherus BioSciences will report full year sales of $377.27 million for the current year, with estimates ranging from $369.77 million to $382.91 million. For the next fiscal year, analysts forecast that the business will report sales of $440.45 million, with estimates ranging from $409.30 million to $513.94 million. Zacks Investment Research's sales calculations are a mean average based on a survey of sell-side research firms that cover Coherus BioSciences.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Thursday, May 6th. The biotechnology company reported ($2.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($2.46). Coherus BioSciences had a negative return on equity of 34.76% and a negative net margin of 17.23%. The firm had revenue of $83.03 million during the quarter, compared to the consensus estimate of $97.87 million.
Several brokerages have recently issued reports on CHRS. HC Wainwright cut their target price on shares of Coherus BioSciences from $29.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, May 13th. TheStreet lowered Coherus BioSciences from a "c" rating to a "d-" rating in a research note on Monday, May 17th. Citigroup dropped their price target on Coherus BioSciences from $30.00 to $27.00 in a research note on Thursday, February 25th. Maxim Group assumed coverage on Coherus BioSciences in a research note on Friday, May 7th. They issued a "buy" rating and a $22.00 price target for the company. Finally, Zacks Investment Research lowered Coherus BioSciences from a "hold" rating to a "sell" rating in a research note on Friday, May 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. The stock currently has a consensus rating of "Buy" and a consensus price target of $24.00.
Shares of Coherus BioSciences stock opened at $14.50 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.20 and a debt-to-equity ratio of 2.33. Coherus BioSciences has a 52-week low of $12.90 and a 52-week high of $22.22. The business has a 50 day moving average price of $14.03.
In other Coherus BioSciences news, CEO Dennis M. Lanfear sold 31,054 shares of the firm's 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 transaction, the chief executive officer now owns 493,258 shares of the company's stock, valued at $6,688,578.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mcdavid Stilwell acquired 3,700 shares of the stock in a transaction on Wednesday, June 9th. The shares were purchased at an average cost of $13.42 per share, with a total value of $49,654.00. The disclosure for this purchase can be found here. Company insiders own 12.97% of the company's stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in shares of Coherus BioSciences by 2.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 34,875 shares of the biotechnology company's stock worth $606,000 after purchasing an additional 885 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Coherus BioSciences by 0.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 130,478 shares of the biotechnology company's stock worth $1,906,000 after purchasing an additional 990 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Coherus BioSciences by 0.7% in the 4th quarter. Public Sector Pension Investment Board now owns 140,240 shares of the biotechnology company's stock worth $2,437,000 after purchasing an additional 1,000 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Coherus BioSciences by 171.3% in the 4th quarter. Penserra Capital Management LLC now owns 1,655 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Coherus BioSciences by 1.9% in the 4th quarter. Comerica Bank now owns 66,889 shares of the biotechnology company's stock worth $1,226,000 after purchasing an additional 1,236 shares during the last quarter.
Coherus BioSciences Company Profile
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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