Analysts expect Coherus Biosciences Inc (NASDAQ:CHRS) to post earnings of $0.58 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Coherus Biosciences’ earnings, with the highest EPS estimate coming in at $0.73 and the lowest estimate coming in at $0.35. Coherus Biosciences posted earnings of ($0.92) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 163%. The business is expected to report its next quarterly earnings report on Thursday, February 27th.
According to Zacks, analysts expect that Coherus Biosciences will report full year earnings of $1.15 per share for the current fiscal year, with EPS estimates ranging from $0.67 to $1.39. For the next financial year, analysts forecast that the company will report earnings of $1.50 per share, with EPS estimates ranging from $0.62 to $1.98. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Coherus Biosciences.
Coherus Biosciences (NASDAQ:CHRS) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.36 by $0.27. The business had revenue of $111.68 million for the quarter, compared to analyst estimates of $93.58 million.
A number of analysts have commented on the stock. Mizuho set a $43.00 price target on shares of Coherus Biosciences and gave the company a “buy” rating in a research note on Sunday, September 29th. BidaskClub lowered shares of Coherus Biosciences from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. HC Wainwright restated a “buy” rating and set a $29.00 price target (up previously from $28.00) on shares of Coherus Biosciences in a research note on Friday, August 2nd. Credit Suisse Group restated a “buy” rating and set a $36.00 price target on shares of Coherus Biosciences in a research note on Friday. Finally, Barclays set a $31.00 price target on shares of Coherus Biosciences and gave the company a “buy” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $30.38.
NASDAQ:CHRS traded up $0.06 during mid-day trading on Tuesday, hitting $19.06. 1,353,200 shares of the company’s stock were exchanged, compared to its average volume of 992,812. The firm has a market capitalization of $1.14 billion, a P/E ratio of -5.92 and a beta of 2.90. The company has a 50 day simple moving average of $19.20 and a 200-day simple moving average of $19.18. Coherus Biosciences has a fifty-two week low of $8.32 and a fifty-two week high of $23.91.
In other Coherus Biosciences news, CFO Jean-Frederic Viret sold 1,388 shares of Coherus Biosciences stock in a transaction on Friday, October 18th. The shares were sold at an average price of $19.02, for a total transaction of $26,399.76. Following the transaction, the chief financial officer now directly owns 6,385 shares of the company’s stock, valued at approximately $121,442.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Vincent R. Anicetti sold 2,500 shares of Coherus Biosciences stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $19.00, for a total transaction of $47,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,264 shares of company stock worth $504,967 over the last ninety days. Insiders own 18.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA purchased a new position in shares of Coherus Biosciences in the 3rd quarter worth about $349,000. Boston Advisors LLC boosted its holdings in shares of Coherus Biosciences by 61.1% in 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 during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Coherus Biosciences in the 3rd quarter worth about $52,000. First Trust Advisors LP boosted its holdings in shares of Coherus Biosciences by 472.7% in 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 during the last quarter. Finally, C WorldWide Group Holding A S boosted its holdings in shares of Coherus Biosciences by 19.2% in 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 buying an additional 130,000 shares during the last quarter. 96.37% of the stock is currently owned by hedge funds and other institutional investors.
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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