Coherus BioSciences, Inc. (CHRS) Sees Large Volume Increase

Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) saw unusually-strong trading volume on Friday . Approximately 1,487,788 shares traded hands during trading, an increase of 142% from the previous session’s volume of 615,661 shares.The stock last traded at $13.00 and had previously closed at $12.90.

A number of equities research analysts have recently issued reports on CHRS shares. Zacks Investment Research upgraded Coherus BioSciences from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, August 15th. ValuEngine upgraded Coherus BioSciences from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Cowen and Company restated an “outperform” rating and issued a $45.00 price target on shares of Coherus BioSciences in a research note on Tuesday, June 13th. J P Morgan Chase & Co restated a “buy” rating on shares of Coherus BioSciences in a research note on Monday, June 12th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $24.00 price target (down previously from $38.00) on shares of Coherus BioSciences in a research note on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Coherus BioSciences presently has a consensus rating of “Buy” and an average target price of $32.70.

The firm’s market cap is $667.50 million. The firm’s 50 day moving average price is $13.03 and its 200-day moving average price is $17.60.

Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($1.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.29) by $0.21. Coherus BioSciences had a negative return on equity of 307.41% and a negative net margin of 73.89%. The business had revenue of $1.40 million for the quarter. On average, equities analysts expect that Coherus BioSciences, Inc. will post ($5.13) earnings per share for the current year.

In other Coherus BioSciences news, insider Alan C. Herman sold 17,535 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $15.02, for a total value of $263,375.70. Following the transaction, the insider now owns 49,651 shares of the company’s stock, valued at $745,758.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 26.28% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Jennison Associates LLC boosted its position in Coherus BioSciences by 0.4% in the second quarter. Jennison Associates LLC now owns 18,200 shares of the biotechnology company’s stock worth $261,000 after purchasing an additional 69 shares during the last quarter. Wells Fargo & Company MN boosted its position in Coherus BioSciences by 0.9% in the second quarter. Wells Fargo & Company MN now owns 29,116 shares of the biotechnology company’s stock worth $418,000 after purchasing an additional 253 shares during the last quarter. Nationwide Fund Advisors boosted its position in Coherus BioSciences by 1.3% in the first quarter. Nationwide Fund Advisors now owns 33,982 shares of the biotechnology company’s stock worth $719,000 after purchasing an additional 421 shares during the last quarter. Legal & General Group Plc boosted its position in Coherus BioSciences by 12.6% in the second quarter. Legal & General Group Plc now owns 9,341 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 1,046 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Coherus BioSciences by 2.3% in the second quarter. California State Teachers Retirement System now owns 67,940 shares of the biotechnology company’s stock worth $975,000 after purchasing an additional 1,500 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

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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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