Wall Street analysts predict that Coherus Biosciences Inc (NASDAQ:CHRS) will report earnings of $0.58 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Coherus Biosciences’ earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.73. Coherus Biosciences posted earnings per share of ($0.92) in the same quarter last year, which would indicate a positive year over year growth rate of 163%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 27th.
On average, analysts expect that Coherus Biosciences will report full year earnings of $1.15 per share for the current year, with EPS estimates ranging from $0.67 to $1.39. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.50 per share, with EPS estimates ranging from $0.62 to $1.98. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Coherus Biosciences.
Coherus Biosciences (NASDAQ:CHRS) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.27. The business had revenue of $111.68 million during the quarter, compared to analysts’ expectations of $93.58 million.
Several equities analysts have commented on CHRS shares. Citigroup upped their price objective on Coherus Biosciences from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday. Credit Suisse Group reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Coherus Biosciences in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Coherus Biosciences in a research report on Friday, August 2nd. Barclays set a $31.00 price objective on Coherus Biosciences and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Coherus Biosciences in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.38.
Shares of CHRS traded up $0.06 during mid-day trading on Tuesday, hitting $19.06. 1,353,200 shares of the stock were exchanged, compared to its average volume of 992,812. The firm has a 50-day moving average of $19.20 and a two-hundred day moving average of $19.18. The company has a market cap of $1.14 billion, a PE ratio of -5.92 and a beta of 2.90. Coherus Biosciences has a 52-week low of $8.32 and a 52-week high of $23.91.
In other news, CFO Jean-Frederic Viret sold 1,388 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $19.02, for a total transaction of $26,399.76. Following the transaction, the chief financial officer now owns 6,385 shares of the company’s stock, valued at approximately $121,442.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Vincent R. Anicetti sold 2,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $20.03, for a total value of $50,075.00. Following the transaction, the chief operating officer now directly owns 21,810 shares in the company, valued at approximately $436,854.30. The disclosure for this sale can be found here. Insiders have sold a total of 25,264 shares of company stock worth $504,967 in the last three months. Corporate insiders own 18.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new position in shares of Coherus Biosciences during the 3rd quarter worth $349,000. Boston Advisors LLC grew its position in shares of Coherus Biosciences by 61.1% during the 3rd quarter. Boston Advisors LLC now owns 61,106 shares of the biotechnology company’s stock worth $1,238,000 after buying an additional 23,179 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Coherus Biosciences during the 3rd quarter worth $52,000. First Trust Advisors LP grew its position in shares of Coherus Biosciences by 472.7% during the 3rd quarter. First Trust Advisors LP now owns 169,747 shares of the biotechnology company’s stock worth $3,439,000 after buying an additional 140,107 shares in the last quarter. Finally, C WorldWide Group Holding A S lifted its stake in shares of Coherus Biosciences by 19.2% during the 3rd quarter. C WorldWide Group Holding A S now owns 808,464 shares of the biotechnology company’s stock worth $16,379,000 after purchasing an additional 130,000 shares during the last quarter. 96.37% of the stock is currently owned by institutional investors and hedge funds.
About Coherus Biosciences
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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