ValuEngine Upgrades Coherus Biosciences (CHRS) to “Buy”

ValuEngine upgraded shares of Coherus Biosciences (NASDAQ:CHRS) from a hold rating to a buy rating in a report issued on Friday, May 10th, ValuEngine reports.

Several other analysts also recently issued reports on CHRS. BidaskClub raised shares of Coherus Biosciences from a strong sell rating to a sell rating in a report on Thursday, January 10th. Zacks Investment Research downgraded shares of Coherus Biosciences from a hold rating to a sell rating in a report on Thursday, March 7th. Credit Suisse Group set a $25.00 price target on shares of Coherus Biosciences and gave the company a buy rating in a report on Thursday, March 7th. Maxim Group reissued a buy rating and issued a $25.00 price target on shares of Coherus Biosciences in a report on Monday, April 8th. Finally, Robert W. Baird set a $28.00 price target on shares of Coherus Biosciences and gave the company a buy rating in a report on Wednesday, April 10th. Eight research analysts have rated the stock with a buy rating, Coherus Biosciences has a consensus rating of Buy and a consensus target price of $28.33.

Shares of CHRS traded up $0.99 during mid-day trading on Friday, hitting $18.55. 971,515 shares of the company’s stock were exchanged, compared to its average volume of 819,809. Coherus Biosciences has a twelve month low of $8.32 and a twelve month high of $20.66. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -5.76 and a beta of 3.64. The company has a quick ratio of 2.49, a current ratio of 3.84 and a debt-to-equity ratio of 8.29.

Coherus Biosciences (NASDAQ:CHRS) last posted its quarterly earnings data on Thursday, February 28th. The biotechnology company reported ($0.92) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.82) by ($0.10). As a group, research analysts predict that Coherus Biosciences will post -0.8 earnings per share for the current fiscal year.

In other news, CFO Jean-Frederic Viret sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $14.92, for a total transaction of $44,760.00. Following the completion of the transaction, the chief financial officer now directly owns 13,185 shares of the company’s stock, valued at approximately $196,720.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.20% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Boston Advisors LLC increased its position in shares of Coherus Biosciences by 12.7% during the 4th quarter. Boston Advisors LLC now owns 33,060 shares of the biotechnology company’s stock worth $299,000 after purchasing an additional 3,725 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Coherus Biosciences during the 3rd quarter worth about $282,000. Pura Vida Investments LLC acquired a new stake in Coherus Biosciences in the 4th quarter valued at about $1,910,000. Federated Investors Inc. PA increased its position in Coherus Biosciences by 153.2% in the 3rd quarter. Federated Investors Inc. PA now owns 136,071 shares of the biotechnology company’s stock valued at $2,245,000 after acquiring an additional 82,334 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Coherus Biosciences by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,682,801 shares of the biotechnology company’s stock valued at $44,266,000 after acquiring an additional 406,520 shares in the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.

About Coherus Biosciences

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.

Recommended Story: Balanced Fund

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Coherus Biosciences (NASDAQ:CHRS)

Receive News & Ratings for Coherus Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherus Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.