Coherus Biosciences Inc (NASDAQ:CHRS) Expected to Post Quarterly Sales of $123.60 Million

Wall Street brokerages expect that Coherus Biosciences Inc (NASDAQ:CHRS) will report sales of $123.60 million for the current quarter, Zacks reports. Three analysts have made estimates for Coherus Biosciences’ earnings, with the highest sales estimate coming in at $129.79 million and the lowest estimate coming in at $117.72 million. The company is expected to report its next earnings results on Thursday, February 27th.

On average, analysts expect that Coherus Biosciences will report full year sales of $355.61 million for the current year, with estimates ranging from $349.94 million to $362.00 million. For the next financial year, analysts forecast that the company will report sales of $437.01 million, with estimates ranging from $394.60 million to $475.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Coherus Biosciences.

Coherus Biosciences (NASDAQ:CHRS) last announced its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.27. The firm had revenue of $111.68 million for the quarter, compared to analyst estimates of $93.58 million.

A number of analysts recently weighed in on the company. Barclays set a $31.00 price objective on Coherus Biosciences and gave the company a “buy” rating in a report on Monday, August 12th. Zacks Investment Research raised shares of Coherus Biosciences from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Thursday, November 7th. TheStreet raised Coherus Biosciences from a “d-” rating to a “c-” rating in a research report on Thursday, November 7th. ValuEngine lowered shares of Coherus Biosciences from a “sell” rating to a “strong sell” rating in a report on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of Coherus Biosciences in a research note on Monday, November 25th. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. Coherus Biosciences presently has an average rating of “Buy” and a consensus target price of $30.29.

In related news, COO Vincent R. Anicetti sold 2,500 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $18.40, for a total transaction of $46,000.00. Following the completion of the sale, the chief operating officer now directly owns 21,810 shares in the company, valued at approximately $401,304. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jean-Frederic Viret sold 1,388 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $19.02, for a total value of $26,399.76. Following the transaction, the chief financial officer now owns 6,385 shares in the company, valued at $121,442.70. The disclosure for this sale can be found here. Insiders sold a total of 847,217 shares of company stock valued at $15,281,972 in the last ninety days. 18.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in CHRS. Cutler Group LP bought a new position in shares of Coherus Biosciences during the third quarter valued at about $32,000. Tower Research Capital LLC TRC purchased a new stake in Coherus Biosciences in the 3rd quarter worth approximately $52,000. Public Employees Retirement System of Ohio bought a new stake in shares of Coherus Biosciences in the 2nd quarter worth approximately $75,000. Aperio Group LLC purchased a new position in shares of Coherus Biosciences during the second quarter valued at approximately $80,000. Finally, Bank of Montreal Can bought a new position in shares of Coherus Biosciences during the second quarter valued at approximately $114,000. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ CHRS traded down $0.95 during midday trading on Friday, reaching $17.50. 25,062 shares of the company were exchanged, compared to its average volume of 1,106,165. Coherus Biosciences has a one year low of $8.32 and a one year high of $23.91. The stock’s 50-day moving average price is $18.31 and its 200-day moving average price is $19.51. The company has a quick ratio of 3.25, a current ratio of 3.34 and a debt-to-equity ratio of 3.37. The stock has a market cap of $1.26 billion, a P/E ratio of -5.43 and a beta of 2.88.

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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