Equities researchers at BMO Capital Markets assumed coverage on shares of Coherus Biosciences Inc (NASDAQ:CHRS) in a report issued on Friday, May 5th. The brokerage set an “outperform” rating and a $54.00 price target on the biotechnology company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 120.41% from the stock’s current price.
A number of other brokerages have also weighed in on CHRS. Robert W. Baird reiterated an “outperform” rating and set a $40.00 target price on shares of Coherus Biosciences in a research note on Wednesday, February 1st. Maxim Group restated a “buy” rating and set a $43.00 price objective on shares of Coherus Biosciences in a research note on Tuesday, March 14th. Zacks Investment Research upgraded Coherus Biosciences from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Tuesday, February 14th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $38.00 price objective on shares of Coherus Biosciences in a research note on Thursday, March 16th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $40.63.
Coherus Biosciences (NASDAQ:CHRS) traded down 6.429% during midday trading on Friday, reaching $22.925. The company’s stock had a trading volume of 321,424 shares. The firm’s market capitalization is $1.18 billion. The firm has a 50 day moving average price of $20.18 and a 200 day moving average price of $24.52. Coherus Biosciences has a 1-year low of $14.00 and a 1-year high of $31.98.
Coherus Biosciences (NASDAQ:CHRS) last announced its earnings results on Monday, May 8th. The biotechnology company reported ($1.54) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($1.54). The firm had revenue of $0.16 million for the quarter. On average, analysts predict that Coherus Biosciences will post ($5.13) EPS for the current year.
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In other Coherus Biosciences news, insider Alan C. Herman sold 11,333 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $20.73, for a total transaction of $234,933.09. Following the transaction, the insider now owns 90,452 shares in the company, valued at approximately $1,875,069.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 32.88% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the company. Legal & General Group Plc raised its position in shares of Coherus Biosciences by 15.9% in the first quarter. Legal & General Group Plc now owns 8,295 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 1,137 shares during the last quarter. Endurant Capital Management LP acquired a new position in shares of Coherus Biosciences during the third quarter valued at about $225,000. BlueCrest Capital Management Ltd acquired a new position in shares of Coherus Biosciences during the first quarter valued at about $246,000. Trexquant Investment LP acquired a new position in shares of Coherus Biosciences during the first quarter valued at about $319,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Coherus Biosciences during the first quarter valued at about $349,000. Hedge funds and other institutional investors own 64.52% of the company’s stock.
Coherus Biosciences Company Profile
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is engaged in the business of developing and commercializing biosimilar products. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta) and bevacizumab (Avastin); Immunology (Anti-TNF) biosimilar candidates etanercept (Enbrel) and adalimumab (Humira); Ophthalmology biosimilar candidate ranibizumab (Lucentis), and Multiple sclerosis small molecule therapeutic candidate, CHS-131.
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