Mizuho began coverage on shares of Coherus Biosciences (NASDAQ:CHRS) in a report issued on Tuesday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $43.00 price objective on the biotechnology company’s stock.
Other equities research analysts also recently issued reports about the company. ValuEngine downgraded Coherus Biosciences from a buy rating to a hold rating in a report on Wednesday, July 17th. Barclays set a $30.00 price target on Coherus Biosciences and gave the company a buy rating in a report on Friday, June 21st. Robert W. Baird set a $28.00 price target on Coherus Biosciences and gave the company a buy rating in a report on Wednesday, June 19th. Maxim Group reiterated a buy rating and issued a $27.00 price target (up from $25.00) on shares of Coherus Biosciences in a report on Friday, August 2nd. Finally, Zacks Investment Research upgraded Coherus Biosciences from a hold rating to a strong-buy rating and set a $23.00 price target for the company in a report on Friday, July 12th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Coherus Biosciences has an average rating of Buy and an average price target of $31.38.
Shares of NASDAQ CHRS opened at $18.88 on Tuesday. Coherus Biosciences has a twelve month low of $8.32 and a twelve month high of $23.43. The business has a 50 day simple moving average of $19.33 and a 200-day simple moving average of $16.91.
In related news, Director James Healy sold 360,000 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $22.30, for a total transaction of $8,028,000.00. Following the completion of the transaction, the director now directly owns 92 shares in the company, valued at approximately $2,051.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Dennis M. Lanfear sold 32,398 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $19.49, for a total value of $631,437.02. Following the transaction, the chief executive officer now owns 125,017 shares of the company’s stock, valued at $2,436,581.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,179,224 shares of company stock valued at $25,412,832. 18.20% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. United Services Automobile Association lifted its holdings in shares of Coherus Biosciences by 0.9% during the second quarter. United Services Automobile Association now owns 217,216 shares of the biotechnology company’s stock valued at $4,800,000 after purchasing an additional 1,950 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Coherus Biosciences during the second quarter valued at $25,695,000. Jane Street Group LLC purchased a new stake in shares of Coherus Biosciences during the second quarter valued at $424,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Coherus Biosciences by 83.7% during the second quarter. Cubist Systematic Strategies LLC now owns 27,814 shares of the biotechnology company’s stock valued at $615,000 after purchasing an additional 12,671 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Coherus Biosciences during the second quarter valued at $207,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.
Coherus Biosciences Company Profile
Coherus BioSciences, Inc, a commercial-stage biotherapeutics company, focuses on the biosimilar market worldwide. It markets UDENYCA, a long-acting granulocyte-colony stimulating factor, which stimulates production of granulocytes in order to promote the body's ability to fight infections. The company sells UDENYCA in the United States.
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