TheStreet upgraded shares of Coherus Biosciences (NASDAQ:CHRS) from a d- rating to a c- rating in a research note released on Thursday morning, TheStreetRatingsTable reports.
CHRS has been the topic of several other research reports. Maxim Group reiterated a buy rating and set a $27.00 price objective (up previously from $25.00) on shares of Coherus Biosciences in a research report on Friday, August 2nd. Mizuho set a $43.00 price objective on Coherus Biosciences and gave the stock a buy rating in a research report on Sunday, September 29th. Barclays set a $31.00 price objective on Coherus Biosciences and gave the stock a buy rating in a research report on Monday, August 12th. Credit Suisse Group reiterated a buy rating and set a $36.00 price objective on shares of Coherus Biosciences in a research report on Friday. Finally, BidaskClub cut Coherus Biosciences from a hold rating to a sell rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $30.38.
NASDAQ:CHRS traded up $0.06 during trading hours on Thursday, reaching $19.06. 1,353,200 shares of the stock were exchanged, compared to its average volume of 992,812. The stock has a market cap of $1.14 billion, a PE ratio of -5.92 and a beta of 2.90. The firm has a 50 day moving average of $19.20 and a 200 day moving average of $19.18. Coherus Biosciences has a twelve month low of $8.32 and a twelve month high of $23.91.
In related news, CFO Jean-Frederic Viret sold 1,388 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $19.02, for a total value of $26,399.76. Following the transaction, the chief financial officer now owns 6,385 shares in the company, valued at $121,442.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Vincent R. Anicetti sold 2,500 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $19.00, for a total value of $47,500.00. The disclosure for this sale can be found here. Insiders sold 25,264 shares of company stock worth $504,967 in the last 90 days. 18.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. boosted its stake in Coherus Biosciences by 45.5% in the second quarter. Jacobs Levy Equity Management Inc. now owns 137,591 shares of the biotechnology company’s stock valued at $3,041,000 after buying an additional 43,005 shares in the last quarter. Cadence Capital Management LLC acquired a new stake in Coherus Biosciences in the third quarter valued at about $2,634,000. Calamos Advisors LLC acquired a new stake in Coherus Biosciences in the second quarter valued at about $972,000. DekaBank Deutsche Girozentrale boosted its stake in Coherus Biosciences by 300.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 85,400 shares of the biotechnology company’s stock valued at $1,835,000 after buying an additional 64,100 shares in the last quarter. Finally, Atika Capital Management LLC boosted its stake in Coherus Biosciences by 11.7% in the second quarter. Atika Capital Management LLC now owns 210,000 shares of the biotechnology company’s stock valued at $4,641,000 after buying an additional 22,000 shares in the last quarter. Institutional investors own 96.37% of the company’s stock.
About Coherus Biosciences
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.
Recommended Story: Why do companies issue convertible shares?
Receive News & Ratings for Coherus Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherus Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.