Zacks: Brokerages Anticipate Coherus BioSciences, Inc. (NASDAQ:CHRS) Will Announce Quarterly Sales of $83.32 Million

Equities analysts forecast that Coherus BioSciences, Inc. (NASDAQ:CHRS) will report sales of $83.32 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Coherus BioSciences’ earnings. The lowest sales estimate is $80.23 million and the highest is $86.40 million. Coherus BioSciences reported sales of $110.42 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 24.5%. The company is scheduled to announce its next earnings report on Wednesday, February 23rd.

On average, analysts expect that Coherus BioSciences will report full-year sales of $336.00 million for the current year, with estimates ranging from $333.41 million to $339.58 million. For the next year, analysts forecast that the company will report sales of $348.15 million, with estimates ranging from $337.48 million to $355.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Coherus BioSciences.

Coherus BioSciences (NASDAQ:CHRS) last posted its earnings results on Sunday, November 7th. The biotechnology company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.12). The business had revenue of $82.50 million during the quarter, compared to the consensus estimate of $86.96 million. Coherus BioSciences had a negative return on equity of 133.21% and a negative net margin of 63.72%. During the same period in the previous year, the business posted $0.33 EPS.

A number of research firms have commented on CHRS. HC Wainwright reduced their target price on Coherus BioSciences from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, November 9th. Zacks Investment Research raised Coherus BioSciences from a “sell” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $24.40.

Coherus BioSciences stock opened at $13.90 on Friday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -4.43 and a beta of 0.92. The stock has a fifty day simple moving average of $17.23 and a two-hundred day simple moving average of $15.97. Coherus BioSciences has a 12 month low of $12.21 and a 12 month high of $22.22. The company has a current ratio of 2.10, a quick ratio of 1.98 and a debt-to-equity ratio of 2.16.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new position in Coherus BioSciences during the second quarter valued at $31,000. PNC Financial Services Group Inc. lifted its position in Coherus BioSciences by 44.5% during the second quarter. PNC Financial Services Group Inc. now owns 3,148 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 969 shares in the last quarter. Bbva USA lifted its position in Coherus BioSciences by 478.6% during the third quarter. Bbva USA now owns 3,564 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 2,948 shares in the last quarter. US Bancorp DE lifted its position in Coherus BioSciences by 90.4% during the second quarter. US Bancorp DE now owns 5,406 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 2,566 shares in the last quarter. Finally, Amundi purchased a new position in Coherus BioSciences during the second quarter valued at $152,000. 98.25% of the stock is owned by institutional investors.

Coherus BioSciences Company Profile

Coherus BioSciences, Inc is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of biosimilar therapeutics. Its products include UDENYCA and Coherus COMPLETE. The company was founded by Dennis M. Lanfear, Stuart E. Builder, Dr. Alan Herman, Doug Farrar and Steve Glover in September 2010 and is headquartered in Redwood City, CA.

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