Analysts predict that Coherus Biosciences Inc (NASDAQ:CHRS) will post earnings of ($1.54) per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Coherus Biosciences’ earnings. Coherus Biosciences posted earnings of ($1.67) per share during the same quarter last year, which would suggest a positive year over year growth rate of 7.8%. The firm is expected to report its next quarterly earnings results on Monday, May 8th.
On average, analysts expect that Coherus Biosciences will report full-year earnings of ($5.20) per share for the current financial year, with EPS estimates ranging from ($5.34) to ($5.06). For the next financial year, analysts forecast that the company will report earnings of ($2.51) per share, with EPS estimates ranging from ($3.47) to ($1.55). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Coherus Biosciences.
Coherus Biosciences (NASDAQ:CHRS) last issued its quarterly earnings data on Monday, March 13th. The biotechnology company reported ($1.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.11) by $0.60. The business had revenue of $0.84 million for the quarter, compared to analyst estimates of $10 million.
Several analysts have commented on the stock. Robert W. Baird reissued an “outperform” rating and set a $40.00 price target on shares of Coherus Biosciences in a research report on Wednesday, February 1st. Zacks Investment Research lowered shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research report on Thursday, February 16th. Credit Suisse Group AG reissued a “buy” rating and set a $38.00 price target on shares of Coherus Biosciences in a research report on Thursday, March 16th. Finally, Maxim Group reissued a “buy” rating and set a $43.00 price target on shares of Coherus Biosciences in a research report on Tuesday, March 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Coherus Biosciences presently has an average rating of “Buy” and an average price target of $38.43.
In related news, CFO Jean-Frederic Viret sold 3,900 shares of the stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $27.00, for a total value of $105,300.00. Following the completion of the transaction, the chief financial officer now directly owns 6,892 shares of the company’s stock, valued at approximately $186,084. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alan C. Herman sold 11,333 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $20.73, for a total transaction of $234,933.09. Following the completion of the transaction, the insider now directly owns 90,452 shares of the company’s stock, valued at $1,875,069.96. The disclosure for this sale can be found here. Company insiders own 32.88% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Endurant Capital Management LP bought a new position in shares of Coherus Biosciences during the third quarter valued at approximately $225,000. Wells Fargo & Company MN raised its position in shares of Coherus Biosciences by 11.3% in the third quarter. Wells Fargo & Company MN now owns 13,360 shares of the biotechnology company’s stock valued at $358,000 after buying an additional 1,354 shares during the last quarter. Croft Leominster Inc. bought a new position in shares of Coherus Biosciences during the third quarter valued at approximately $401,000. Polar Capital LLP bought a new position in shares of Coherus Biosciences during the third quarter valued at approximately $402,000. Finally, Tudor Investment Corp Et Al raised its position in shares of Coherus Biosciences by 34.9% in the fourth quarter. Tudor Investment Corp Et Al now owns 14,396 shares of the biotechnology company’s stock valued at $405,000 after buying an additional 3,726 shares during the last quarter. 64.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Coherus Biosciences (NASDAQ:CHRS) traded up 0.54% during midday trading on Thursday, reaching $18.75. 524,167 shares of the company’s stock were exchanged. The stock’s market capitalization is $959.01 million. The firm has a 50-day moving average of $21.68 and a 200-day moving average of $25.70. Coherus Biosciences has a 12-month low of $14.00 and a 12-month high of $31.98.
About Coherus Biosciences
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is engaged in the business of developing and commercializing biosimilar products. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta) and bevacizumab (Avastin); Immunology (Anti-TNF) biosimilar candidates etanercept (Enbrel) and adalimumab (Humira); Ophthalmology biosimilar candidate ranibizumab (Lucentis), and Multiple sclerosis small molecule therapeutic candidate, CHS-131.
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