Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) traded up 8.9% on Tuesday following a better than expected earnings announcement. The company traded as high as $15.15 and last traded at $13.50, with a volume of 2,027,673 shares changing hands. The stock had previously closed at $12.40.
The biotechnology company reported ($1.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.29) by $0.21. Coherus BioSciences had a negative net margin of 73.89% and a negative return on equity of 286.12%. The business had revenue of $1.40 million during the quarter.
Several research analysts recently commented on the stock. J P Morgan Chase & Co restated an “overweight” rating and set a $25.00 target price (down previously from $32.00) on shares of Coherus BioSciences in a report on Tuesday. BidaskClub cut shares of Coherus BioSciences from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Credit Suisse Group restated an “outperform” rating and set a $24.00 target price (down previously from $38.00) on shares of Coherus BioSciences in a report on Wednesday, June 14th. ValuEngine cut shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Citigroup Inc. reduced their target price on shares of Coherus BioSciences from $38.00 to $33.00 and set a “buy” rating for the company in a report 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’s stock. The company has a consensus rating of “Buy” and a consensus price target of $35.90.
Hedge funds have recently bought and sold shares of the company. Jennison Associates LLC raised its stake in Coherus BioSciences by 0.4% in the second quarter. Jennison Associates LLC now owns 18,200 shares of the biotechnology company’s stock valued at $261,000 after buying an additional 69 shares during the period. Nationwide Fund Advisors raised its stake in Coherus BioSciences by 1.3% in the first quarter. Nationwide Fund Advisors now owns 33,982 shares of the biotechnology company’s stock valued at $719,000 after buying an additional 421 shares during the period. Legal & General Group Plc raised its stake in Coherus BioSciences by 12.6% in the second quarter. Legal & General Group Plc now owns 9,341 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 1,046 shares during the period. Pictet Asset Management Ltd. raised its stake in Coherus BioSciences by 0.3% in the first quarter. Pictet Asset Management Ltd. now owns 441,788 shares of the biotechnology company’s stock valued at $9,344,000 after buying an additional 1,432 shares during the period. Finally, SG Americas Securities LLC raised its stake in Coherus BioSciences by 32.7% in the second quarter. SG Americas Securities LLC now owns 7,244 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 1,785 shares during the period. 72.07% of the stock is currently owned by hedge funds and other institutional investors.
The stock has a 50 day moving average of $14.04 and a 200-day moving average of $20.08. The stock’s market cap is $646.23 million.
WARNING: This piece was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://sportsperspectives.com/2017/08/10/coherus-biosciences-inc-chrs-trading-8-9-higher-following-better-than-expected-earnings.html.
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.
Receive News & Ratings for Coherus BioSciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherus BioSciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.