Coherus Biosciences (NASDAQ:CHRS) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.87) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by ($0.08), Morningstar.com reports.
CHRS stock traded down $1.88 during trading on Friday, hitting $10.06. The company had a trading volume of 2,369,603 shares, compared to its average volume of 892,346. The company has a debt-to-equity ratio of 1.66, a current ratio of 7.79 and a quick ratio of 7.79. The firm has a market cap of $846.40 million, a price-to-earnings ratio of -2.24 and a beta of 3.72. Coherus Biosciences has a fifty-two week low of $8.05 and a fifty-two week high of $20.66.
CHRS has been the topic of several recent research reports. Zacks Investment Research lowered Coherus Biosciences from a “hold” rating to a “sell” rating in a report on Monday, August 13th. BidaskClub lowered Coherus Biosciences from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Maxim Group reissued a “buy” rating and set a $25.00 price objective on shares of Coherus Biosciences in a report on Tuesday, September 25th. HC Wainwright initiated coverage on Coherus Biosciences in a report on Tuesday, August 28th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, ValuEngine lowered Coherus Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, September 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $27.20.
Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. bought a new position in Coherus Biosciences in the 1st quarter valued at $115,000. Tower Research Capital LLC TRC bought a new position in Coherus Biosciences in the 2nd quarter valued at $118,000. Hartwell J M Limited Partnership bought a new stake in shares of Coherus Biosciences during the second quarter worth $140,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Coherus Biosciences during the second quarter worth $193,000. Finally, BlueMountain Capital Management LLC bought a new stake in shares of Coherus Biosciences during the second quarter worth $214,000. 91.25% of the stock is currently owned by institutional investors and hedge funds.
Coherus Biosciences Company Profile
Coherus BioSciences, Inc, a biosimilar company, develops and commercializes various therapeutic products worldwide. The company engages in the development of late-stage clinical products, including CHS-1701 pegfilgrastim biosimilar, a granulocyte colony-stimulating factor product candidate; CHS-1420 adalimumab biosimilar, an anti-tumor necrosis factor product candidate; and CHS-0214, an etanercept biosimilar for rheumatoid arthritis and psoriasis.
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