Coherus BioSciences, Inc. (NASDAQ:CHRS) Reaches New 52-Week Low Following Insider Selling
Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) reached a new 52-week low during trading on Thursday following insider selling activity. The stock traded as low as $11.65 and last traded at $11.65, with a volume of 286,846 shares changing hands. The stock had previously closed at $12.60.
Specifically, insider Alan C. Herman sold 17,535 shares of the stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 32.88% of the company’s stock.
Several equities analysts have commented on the stock. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $25.00 price target (down from $32.00) on shares of Coherus BioSciences in a research note on Tuesday. BidaskClub lowered shares of Coherus BioSciences from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Robert W. Baird dropped their price target on shares of Coherus BioSciences from $40.00 to $37.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 13th. Credit Suisse Group reiterated a “buy” rating and issued a $38.00 price target on shares of Coherus BioSciences in a research note on Friday, April 21st. Finally, Cowen and Company reiterated an “outperform” rating and issued a $45.00 price target on shares of Coherus BioSciences in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $35.90.
The stock’s market capitalization is $598.18 million. The firm’s 50 day moving average is $13.61 and its 200-day moving average is $19.60.
Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($1.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.29) by $0.21. The firm had revenue of $1.40 million during the quarter. Coherus BioSciences had a negative return on equity of 307.41% and a negative net margin of 73.89%. On average, analysts predict that Coherus BioSciences, Inc. will post ($5.13) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of CHRS. Virtu KCG Holdings LLC bought a new position in shares of Coherus BioSciences during the second quarter worth approximately $602,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Coherus BioSciences during the second quarter worth about $622,000. FMR LLC raised its position in shares of Coherus BioSciences by 0.3% in the second quarter. FMR LLC now owns 7,693,124 shares of the biotechnology company’s stock worth $110,396,000 after buying an additional 21,143 shares during the period. Vanguard Group Inc. raised its position in shares of Coherus BioSciences by 2.1% in the second quarter. Vanguard Group Inc. now owns 2,255,467 shares of the biotechnology company’s stock worth $32,367,000 after buying an additional 46,223 shares during the period. Finally, Northern Trust Corp raised its position in shares of Coherus BioSciences by 13.8% in the second quarter. Northern Trust Corp now owns 464,056 shares of the biotechnology company’s stock worth $6,660,000 after buying an additional 56,122 shares during the period. Hedge funds and other institutional investors own 72.07% 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.
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