Coherus Biosciences (CHRS) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of Coherus Biosciences (NASDAQ:CHRS) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Other research analysts have also issued reports about the company. Citigroup reissued a buy rating and set a $23.00 price target on shares of Coherus Biosciences in a report on Tuesday, November 7th. Zacks Investment Research raised Coherus Biosciences from a hold rating to a buy rating and set a $11.00 price target on the stock in a report on Wednesday, January 3rd. Finally, ValuEngine raised Coherus Biosciences from a strong sell rating to a sell rating in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $29.67.

Shares of Coherus Biosciences (CHRS) opened at $9.55 on Friday. Coherus Biosciences has a 52-week low of $8.05 and a 52-week high of $27.30. The company has a quick ratio of 5.46, a current ratio of 5.46 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $553.38, a price-to-earnings ratio of -1.76 and a beta of 3.81.

Coherus Biosciences (NASDAQ:CHRS) last issued its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates 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 anticipate that Coherus Biosciences will post -4.39 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Temasek Holdings Private Ltd bought a new position in Coherus Biosciences during the third quarter valued at about $87,524,000. State Street Corp boosted its stake in Coherus Biosciences by 26.8% during the second quarter. State Street Corp now owns 1,416,572 shares of the biotechnology company’s stock valued at $20,329,000 after buying an additional 298,986 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Coherus Biosciences by 551.1% during the second quarter. Macquarie Group Ltd. now owns 310,923 shares of the biotechnology company’s stock valued at $4,462,000 after buying an additional 263,168 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in Coherus Biosciences by 59.2% during the third quarter. State of Wisconsin Investment Board now owns 538,000 shares of the biotechnology company’s stock valued at $7,182,000 after buying an additional 200,000 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Coherus Biosciences by 417.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 224,445 shares of the biotechnology company’s stock valued at $2,996,000 after buying an additional 181,080 shares in the last quarter. 78.87% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Coherus Biosciences (NASDAQ:CHRS)

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