ValuEngine Upgrades Coherus Biosciences Inc (CHRS) to “Sell”

ValuEngine Upgrades Coherus Biosciences Inc (CHRS) to “Sell”

Coherus Biosciences Inc (NASDAQ:CHRS) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Friday.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Coherus Biosciences from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Tuesday, February 14th. Maxim Group set a $43.00 price objective on Coherus Biosciences and gave the company a “buy” rating in a report on Monday, May 15th. Citigroup Inc set a $38.00 price objective on Coherus Biosciences and gave the company a “buy” rating in a report on Wednesday, May 17th. Credit Suisse Group AG restated a “buy” rating and set a $38.00 price objective on shares of Coherus Biosciences in a report on Friday, April 21st. Finally, BMO Capital Markets restated an “outperform” rating and set a $54.00 price objective on shares of Coherus Biosciences in a report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.63.

Shares of Coherus Biosciences (NASDAQ CHRS) traded up 5.15% during mid-day trading on Friday, hitting $22.45. The stock had a trading volume of 690,370 shares. Coherus Biosciences has a 1-year low of $14.00 and a 1-year high of $31.98. The stock’s 50-day moving average is $20.51 and its 200-day moving average is $24.09. The firm’s market capitalization is $1.15 billion.

Coherus Biosciences (NASDAQ:CHRS) last issued its quarterly earnings results on Monday, May 8th. The biotechnology company reported ($1.54) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($1.54). The business had revenue of $0.16 million during the quarter. Equities analysts expect that Coherus Biosciences will post ($5.13) earnings per share for the current year.

In related news, insider Alan C. Herman sold 11,333 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $20.73, for a total transaction of $234,933.09. Following the completion of the sale, the insider now owns 90,452 shares in the company, valued at $1,875,069.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 32.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Orbimed Advisors LLC increased its position in shares of Coherus Biosciences by 26.6% in the fourth quarter. Orbimed Advisors LLC now owns 850,100 shares of the biotechnology company’s stock worth $23,930,000 after buying an additional 178,500 shares during the period. JHL Capital Group LLC acquired a new position in shares of Coherus Biosciences during the fourth quarter worth about $7,038,000. Two Sigma Investments LP acquired a new position in shares of Coherus Biosciences during the fourth quarter worth about $3,251,000. A.R.T. Advisors LLC increased its position in shares of Coherus Biosciences by 292.9% in the fourth quarter. A.R.T. Advisors LLC now owns 33,400 shares of the biotechnology company’s stock worth $940,000 after buying an additional 24,900 shares during the period. Finally, Allianz Asset Management AG increased its position in shares of Coherus Biosciences by 14.3% in the fourth quarter. Allianz Asset Management AG now owns 162,605 shares of the biotechnology company’s stock worth $4,577,000 after buying an additional 20,300 shares during the period. Hedge funds and other institutional investors own 64.52% 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CHRS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view ValuEngine’s full report, visit ValuEngine’s official website.

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