The BlackRock Advisors LLC Has $2,085,000 Stake in Coherus BioSciences Inc. (CHRS)

The BlackRock Advisors LLC Has $2,085,000 Stake in Coherus BioSciences Inc. (CHRS)

BlackRock Advisors LLC raised its stake in shares of Coherus BioSciences Inc. (NASDAQ:CHRS) by 326.8% during the third quarter, Holdings Channel reports. The firm owned 77,869 shares of the company’s stock after buying an additional 59,626 shares during the period. BlackRock Advisors LLC’s holdings in Coherus BioSciences were worth $2,085,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Citigroup Inc. boosted its position in shares of Coherus BioSciences by 2.1% in the second quarter. Citigroup Inc. now owns 17,433 shares of the company’s stock valued at $294,000 after buying an additional 351 shares during the period. Nationwide Fund Advisors boosted its position in shares of Coherus BioSciences by 1.1% in the third quarter. Nationwide Fund Advisors now owns 36,831 shares of the company’s stock valued at $986,000 after buying an additional 386 shares during the period. ProShare Advisors LLC boosted its position in shares of Coherus BioSciences by 2.9% in the second quarter. ProShare Advisors LLC now owns 32,741 shares of the company’s stock valued at $553,000 after buying an additional 912 shares during the period. Jennison Associates LLC boosted its position in shares of Coherus BioSciences by 6.9% in the third quarter. Jennison Associates LLC now owns 14,425 shares of the company’s stock valued at $386,000 after buying an additional 932 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Coherus BioSciences by 11.3% in the third quarter. Wells Fargo & Company MN now owns 13,360 shares of the company’s stock valued at $358,000 after buying an additional 1,354 shares during the period. Hedge funds and other institutional investors own 64.50% of the company’s stock.

Coherus BioSciences Inc. (NASDAQ:CHRS) traded up 2.55% on Thursday, hitting $26.10. 258,951 shares of the company were exchanged. The stock’s market capitalization is $1.14 billion. Coherus BioSciences Inc. has a 52 week low of $12.04 and a 52 week high of $31.98. The company has a 50 day moving average price of $27.71 and a 200-day moving average price of $27.68.

Coherus BioSciences (NASDAQ:CHRS) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of ($1.56) by $3.23. The firm had revenue of $162.80 million for the quarter, compared to the consensus estimate of $7.20 million. During the same quarter in the prior year, the company earned ($1.86) earnings per share. On average, equities analysts expect that Coherus BioSciences Inc. will post ($3.19) earnings per share for the current fiscal year.

Several brokerages have issued reports on CHRS. Maxim Group set a $43.00 price target on shares of Coherus BioSciences and gave the company a “buy” rating in a research report on Saturday, October 8th. Citigroup Inc. reiterated a “buy” rating and set a $36.00 price objective on shares of Coherus BioSciences in a research report on Monday, November 7th. Zacks Investment Research upgraded shares of Coherus BioSciences from a “sell” rating to a “hold” rating in a research report on Wednesday, October 26th. Robert W. Baird initiated coverage on shares of Coherus BioSciences in a research report on Tuesday, October 18th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Barclays PLC reiterated an “overweight” rating and set a $46.00 price objective on shares of Coherus BioSciences in a research report on Tuesday, October 4th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $37.38.

In other Coherus BioSciences news, Director Mats Wahlstrom sold 53,583 shares of the business’s stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $27.52, for a total transaction of $1,474,604.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jean-Frederic Viret sold 3,900 shares of the business’s stock in a transaction on Friday, October 21st. The shares were sold at an average price of $30.62, for a total transaction of $119,418.00. Following the transaction, the chief financial officer now directly owns 6,225 shares in the company, valued at $190,609.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,716 shares of company stock worth $2,014,916. Insiders own 32.88% of the company’s stock.

Coherus BioSciences Company Profile

Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is focused on the global biosimilar market. The Company operates through developing and commercializing biosimilar products segment. Its business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta), in late clinical-stage, and bevacizumab (Avastin), in preclinical-stage; Immunology (Anti-TNF) biosimilar candidates, etanercept (Enbrel) and adalimumab (Humira), which are both in late clinical-stage; Ophthalmology biosimilar candidate ranibizumab (Lucentis) in preclinical stage, and Multiple sclerosis small molecule therapeutic candidate, CHS-131 (formerly INT-131), in Phase II proof-of-concept trial.

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