Analysts Set Coherus BioSciences, Inc. (CHRS) Price Target at $34.00

Coherus BioSciences, Inc. (NASDAQ:CHRS) has been given an average rating of “Buy” by the twelve research firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating and nine have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $34.00.

A number of equities analysts recently issued reports on the company. J P Morgan Chase & Co restated an “overweight” rating and issued a $25.00 target price (down previously from $32.00) on shares of Coherus BioSciences in a research note on Tuesday, August 8th. Credit Suisse Group restated an “outperform” rating and issued a $17.00 target price (down previously from $24.00) on shares of Coherus BioSciences in a research note on Wednesday, September 27th. ValuEngine upgraded Coherus BioSciences from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Zacks Investment Research lowered Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, Maxim Group restated a “buy” rating and issued a $20.00 target price (down previously from $40.00) on shares of Coherus BioSciences in a research note on Friday, September 8th.

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Coherus BioSciences (NASDAQ CHRS) traded down 1.273% during mid-day trading on Thursday, reaching $13.575. The company had a trading volume of 207,328 shares. Coherus BioSciences has a 52 week low of $10.80 and a 52 week high of $31.48. The stock’s 50-day moving average price is $13.51 and its 200 day moving average price is $16.13. The firm’s market capitalization is $697.02 million.

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 Zacks’ consensus estimate of ($1.29) by $0.21. The firm had revenue of $1.40 million during the quarter. Coherus BioSciences had a negative return on equity of 307.41% and a negative net margin of 73.89%. On average, equities research analysts predict that Coherus BioSciences will post ($5.13) EPS for the current year.

In other Coherus BioSciences news, insider Alan C. Herman sold 17,535 shares of Coherus BioSciences stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $15.02, for a total transaction of $263,375.70. Following the completion of the transaction, the insider now owns 49,651 shares in the company, valued at approximately $745,758.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 26.28% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC raised its stake in shares of Coherus BioSciences by 0.4% during the 2nd quarter. Jennison Associates LLC now owns 18,200 shares of the biotechnology company’s stock valued at $261,000 after buying an additional 69 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Coherus BioSciences by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 29,116 shares of the biotechnology company’s stock valued at $418,000 after buying an additional 253 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Coherus BioSciences by 1.3% during the 1st quarter. Nationwide Fund Advisors now owns 33,982 shares of the biotechnology company’s stock valued at $719,000 after buying an additional 421 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Coherus BioSciences by 12.6% during the 2nd quarter. Legal & General Group Plc now owns 9,341 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 1,046 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Coherus BioSciences by 2.3% during the 2nd quarter. California State Teachers Retirement System now owns 67,940 shares of the biotechnology company’s stock valued at $975,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 78.19% 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.

Analyst Recommendations for Coherus BioSciences (NASDAQ:CHRS)

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