Coherus Biosciences (CHRS) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

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.

In related news, insider Barbara K. Finck sold 1,760 shares of the business’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $19.02, for a total value of $33,475.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James Healy sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $20.50, for a total value of $512,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,520 shares of company stock worth $578,676. 26.28% of the stock is owned by insiders.

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.

WARNING: “Coherus Biosciences (CHRS) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS” was originally posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this piece on another domain, it was stolen and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.baseballdailydigest.com/2018/11/10/coherus-biosciences-chrs-releases-quarterly-earnings-results-misses-expectations-by-0-08-eps.html.

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.

Featured Story: What is the NASDAQ?

Earnings History 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.

Leave a Reply