Zacks Investment Research lowered shares of Coherus Biosciences (NASDAQ:CHRS) from a hold rating to a sell rating in a report published on Monday, Zacks.com reports.

According to Zacks, “Coherus Biosciences, Inc. is a biologics platform company developing biosimilar therapeutics. Its clinical stage pipeline consists of CHS-0214 in two Phase III clinical trials for the treatment of rheumatoid arthritis and psoriasis; CHS-1420 that has completed a Phase I study to treat psoriasis or rheumatoid arthritis; and CHS-1701 which has completed a Phase I study for the treatment of breast cancer patients. Coherus Biosciences, Inc. is headquartered in Redwood City, California. “

Other analysts have also issued research reports about the company. BidaskClub lowered Coherus Biosciences from a sell rating to a strong sell rating in a report on Thursday, July 16th. SunTrust Banks assumed coverage on Coherus Biosciences in a research note on Friday, April 17th. They issued a buy rating and a $26.00 price objective for the company. ValuEngine lowered Coherus Biosciences from a sell rating to a strong sell rating in a research note on Wednesday, July 8th. HC Wainwright upped their price objective on Coherus Biosciences from $30.00 to $33.00 and gave the stock a buy rating in a research note on Friday, August 7th. Finally, Maxim Group assumed coverage on Coherus Biosciences in a research note on Friday, August 7th. They issued a buy rating and a $27.00 price objective for the company. Three analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $28.78.

NASDAQ:CHRS opened at $18.90 on Monday. The stock has a 50-day simple moving average of $18.14 and a two-hundred day simple moving average of $17.74. Coherus Biosciences has a 52-week low of $10.86 and a 52-week high of $23.91. The company has a debt-to-equity ratio of 1.94, a quick ratio of 5.00 and a current ratio of 5.21. The firm has a market capitalization of $1.37 billion, a PE ratio of 8.08, a P/E/G ratio of 2.61 and a beta of 2.03.

Coherus Biosciences (NASDAQ:CHRS) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.44. Coherus Biosciences had a return on equity of 139.51% and a net margin of 37.11%. Equities analysts forecast that Coherus Biosciences will post 1.28 earnings per share for the current fiscal year.

In related news, Director Mary T. Szela sold 54,997 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $17.58, for a total value of $966,847.26. Following the sale, the director now directly owns 14,997 shares in the company, valued at $263,647.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Vincent R. Anicetti sold 15,000 shares of the business’s stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $18.25, for a total value of $273,750.00. The disclosure for this sale can be found here. Insiders sold 273,775 shares of company stock worth $4,736,217 over the last quarter. 15.86% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Bellevue Group AG raised its position in Coherus Biosciences by 2,286.4% during the second quarter. Bellevue Group AG now owns 1,157,400 shares of the biotechnology company’s stock valued at $20,671,000 after purchasing an additional 1,108,900 shares during the period. FMR LLC raised its position in Coherus Biosciences by 10.3% during the second quarter. FMR LLC now owns 1,096,990 shares of the biotechnology company’s stock valued at $19,591,000 after purchasing an additional 102,051 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in Coherus Biosciences during the second quarter valued at approximately $818,000. Nordea Investment Management AB raised its position in Coherus Biosciences by 99.3% during the second quarter. Nordea Investment Management AB now owns 556,952 shares of the biotechnology company’s stock valued at $9,636,000 after purchasing an additional 277,514 shares during the period. Finally, State of Tennessee Treasury Department purchased a new stake in Coherus Biosciences during the second quarter valued at approximately $641,000.

Coherus Biosciences Company Profile

Coherus BioSciences, Inc, a commercial-stage biotherapeutics company, focuses on the biosimilar market worldwide. It markets UDENYCA, a long-acting granulocyte-colony stimulating factor, which stimulates production of granulocytes in order to promote the body's ability to fight infections. The company sells UDENYCA in the United States.

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Analyst Recommendations for Coherus Biosciences (NASDAQ:CHRS)

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