ValuEngine lowered shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) from a sell rating to a strong sell rating in a research report sent to investors on Friday morning.
A number of other equities research analysts also recently commented on CHRS. J P Morgan Chase & Co restated an overweight rating and issued a $25.00 target price (down previously from $32.00) on shares of Coherus BioSciences in a research report on Tuesday, August 8th. Credit Suisse Group restated an outperform rating and issued a $17.00 target price (down previously from $24.00) on shares of Coherus BioSciences in a research report on Wednesday, September 27th. Citigroup Inc. reiterated a buy rating and issued a $23.00 price objective on shares of Coherus BioSciences in a report on Tuesday, November 7th. Maxim Group reiterated a buy rating and issued a $20.00 price objective (down previously from $40.00) on shares of Coherus BioSciences in a report on Friday, September 8th. Finally, BidaskClub downgraded Coherus BioSciences from a sell rating to a strong sell rating in a report on Saturday, August 5th. Three analysts have rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Coherus BioSciences currently has an average rating of Buy and an average price target of $31.00.
Shares of Coherus BioSciences (CHRS) opened at $9.15 on Friday. Coherus BioSciences has a 1 year low of $9.10 and a 1 year high of $29.59. The company has a debt-to-equity ratio of 1.84, a current ratio of 5.46 and a quick ratio of 5.46.
Coherus BioSciences (NASDAQ:CHRS) last posted its earnings results on Monday, November 6th. The biotechnology company reported ($1.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.83) by ($0.26). Coherus BioSciences had a negative net margin of 73.89% and a negative return on equity of 582.31%. equities analysts predict that Coherus BioSciences will post -4.39 EPS for the current year.
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Several hedge funds have recently bought and sold shares of the stock. Platinum Investment Management Ltd. purchased a new stake in shares of Coherus BioSciences in the 3rd quarter valued at $1,457,000. Temasek Holdings Private Ltd acquired a new position in Coherus BioSciences during the 3rd quarter worth $87,524,000. Brown Advisory Inc. grew its stake in Coherus BioSciences by 5.5% during the 3rd quarter. Brown Advisory Inc. now owns 594,021 shares of the biotechnology company’s stock worth $7,930,000 after purchasing an additional 31,211 shares in the last quarter. Wells Fargo & Company MN grew its stake in Coherus BioSciences by 429.0% during the 3rd quarter. Wells Fargo & Company MN now owns 154,026 shares of the biotechnology company’s stock worth $2,056,000 after purchasing an additional 124,910 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Coherus BioSciences by 417.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 224,445 shares of the biotechnology company’s stock worth $2,996,000 after purchasing an additional 181,080 shares in the last quarter. Hedge funds and other institutional investors own 69.22% of the company’s stock.
About Coherus BioSciences
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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