Coherus BioSciences, Inc. (NASDAQ:CHRS) CFO Mcdavid Stilwell bought 3,700 shares of the stock in a transaction that occurred 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of NASDAQ CHRS traded up $0.52 during mid-day trading on Thursday, reaching $14.02. 799,949 shares of the company's stock traded hands, compared to its average volume of 1,162,378. The company has a market capitalization of $1.06 billion, a PE ratio of -11.07 and a beta of 1.08. The business has a 50-day moving average of $14.05. Coherus BioSciences, Inc. has a 1-year low of $12.90 and a 1-year high of $22.22. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.20 and a current ratio of 2.40.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings data on Thursday, May 6th. The biotechnology company reported ($2.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($2.46). The business had revenue of $83.03 million for the quarter, compared to analyst estimates of $97.87 million. Coherus BioSciences had a negative net margin of 17.23% and a negative return on equity of 34.76%. As a group, sell-side analysts anticipate that Coherus BioSciences, Inc. will post -2.63 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Coherus BioSciences by 1.8% during the first quarter. Principal Financial Group Inc. now owns 557,032 shares of the biotechnology company's stock valued at $8,139,000 after buying an additional 10,018 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Coherus BioSciences during the first quarter valued at about $5,894,000. Voloridge Investment Management LLC grew its holdings in shares of Coherus BioSciences by 30.7% during the first quarter. Voloridge Investment Management LLC now owns 264,882 shares of the biotechnology company's stock valued at $3,870,000 after buying an additional 62,159 shares during the last quarter. Morgan Stanley grew its holdings in shares of Coherus BioSciences by 19.2% during the first quarter. Morgan Stanley now owns 686,651 shares of the biotechnology company's stock valued at $10,032,000 after buying an additional 110,457 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Coherus BioSciences by 554.7% during the first quarter. Cubist Systematic Strategies LLC now owns 71,366 shares of the biotechnology company's stock valued at $1,043,000 after buying an additional 60,466 shares during the last quarter.
CHRS has been the subject of a number of analyst reports. Barclays lowered their target price on shares of Coherus BioSciences from $28.00 to $24.00 and set an "overweight" rating for the company in a research note on Monday, May 17th. TheStreet downgraded shares of Coherus BioSciences from a "c" rating to a "d-" rating in a research note on Monday, May 17th. Maxim Group initiated coverage on shares of Coherus BioSciences in a research note on Friday, May 7th. They issued a "buy" rating and a $22.00 price target for the company. Zacks Investment Research downgraded shares of Coherus BioSciences from a "hold" rating to a "sell" rating in a research note on Friday, May 7th. Finally, HC Wainwright decreased 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. Coherus BioSciences presently has a consensus rating of "Buy" and an average price target of $24.00.
About Coherus BioSciences
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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