State of Wisconsin Investment Board bought a new position in Coherus BioSciences, Inc. (NASDAQ:CHRS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 338,000 shares of the biotechnology company’s stock, valued at approximately $4,850,000. State of Wisconsin Investment Board owned 0.66% of Coherus BioSciences at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in Coherus BioSciences by 15.9% in the 1st quarter. Legal & General Group Plc now owns 8,295 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 1,137 shares during the period. BlueCrest Capital Management Ltd acquired a new position in Coherus BioSciences in the 1st quarter worth $246,000. Trexquant Investment LP acquired a new position in Coherus BioSciences in the 1st quarter worth $319,000. Highbridge Capital Management LLC acquired a new position in shares of Coherus BioSciences during the 1st quarter worth about $349,000. Finally, Boston Advisors LLC acquired a new position in shares of Coherus BioSciences during the 2nd quarter worth about $244,000. 78.19% of the stock is owned by hedge funds and other institutional investors.
In other Coherus BioSciences news, insider Alan C. Herman sold 17,535 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $15.02, for a total value of $263,375.70. Following the transaction, the insider now directly owns 49,651 shares in the company, valued at $745,758.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 26.28% of the stock is owned by insiders.
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CHRS has been the subject of a number of recent research reports. Barclays PLC restated an “overweight” rating and set a $46.00 price objective on shares of Coherus BioSciences in a research note on Sunday, May 21st. Maxim Group reduced their price objective on shares of Coherus BioSciences from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, June 12th. ValuEngine raised shares of Coherus BioSciences from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of Coherus BioSciences from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, August 15th. Finally, BidaskClub cut shares of Coherus BioSciences from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Coherus BioSciences presently has a consensus rating of “Buy” and a consensus price target of $32.70.
Coherus BioSciences, Inc. (CHRS) traded up 0.78% on Friday, reaching $13.00. 1,487,788 shares of the company’s stock traded hands. Coherus BioSciences, Inc. has a 52-week low of $10.80 and a 52-week high of $31.78. The company’s 50 day moving average is $13.03 and its 200-day moving average is $17.60. The stock’s market cap is $667.50 million.
Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($1.08) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.21. The business had revenue of $1.40 million for the quarter. Coherus BioSciences had a negative net margin of 73.89% and a negative return on equity of 307.41%. Equities analysts expect that Coherus BioSciences, Inc. will post ($5.13) EPS for the current year.
Coherus BioSciences 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.
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