Published: Fri, May 19, 2017
Money | By Armando Alvarado

BMO Capital Markets Reaffirms Outperform Rating for Coherus Biosciences Inc (CHRS)

BMO Capital Markets Reaffirms Outperform Rating for Coherus Biosciences Inc (CHRS)

The company has a consensus rating of "Buy" and a consensus target price of $40.63.

"Amgen (as expected) filed suit against Coherus claiming violations of the Neulasta Patent '707 (purification process).", the firm's analyst commented.

A number of analysts have issued reports on the stock. Maxim Group restated a "buy" rating and set a $43.00 price objective on shares of Coherus Biosciences in a research note on Tuesday, March 14th. Finally, BMO Capital Markets initiated coverage on shares of Coherus Biosciences in a report on Friday, May 5th. The brokerage set an "outperform" rating and a $54.00 price target on the biotechnology company's stock. Baird reaffirmed an outperform rating and set a $40.00 price target on shares of Coherus Biosciences in a research note on Wednesday, February 1st. Analysts have a mean recommendation of 2.00 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). Credit Suisse Group AG reissued a "buy" rating and set a $38.00 price target on shares of Coherus Biosciences in a report on Thursday, March 16th. Shares of Coherus Biosciences, Inc. Coherus Biosciences, Inc. (CHRS) 52 week low value is at $14.00 and its current distance from 52 week low value is 70%. Given the stock's recent action, it seemed like a good time to take a closer look at the company's recent data. Extending back, their stock is trading 10.28% from the 50-Day Simple Moving Average, looking even further back, they are trading -11.58% off of the 200-Day Simple Moving Average.

Coherus Biosciences (NASDAQ:CHRS) last released its quarterly earnings results on Monday, May 8th. Analysts are forecasting earnings of $-1.4 on a per share basis this quarter. The company had revenue of $0.16 million during the quarter.

Since the beginning of the calendar year, Coherus Biosciences, Inc.

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In other Coherus Biosciences news, insider Alan C. Herman sold 11,333 shares of the company's stock in a transaction dated Monday, April 3rd. If the share price is now hovering near the 52 week low and the value is achieved in the current past then it can suggest that the price of the shares is likely to go up. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Given that liquidity is king in short-term, CHRS is a stock with 50.83 million shares outstanding that normally trades 9.9% of its float.

A number of hedge funds have recently modified their holdings of CHRS. The company's stock had a trading volume of 321,424 shares. Rock Springs Capital Management LP now owns 467,500 shares of the biotechnology company's stock worth $12,520,000 after buying an additional 67,500 shares in the last quarter. State Board of Administration of Florida Retirement System now owns 14,589 shares of the biotechnology company's stock worth $411,000 after buying an additional 130 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of Coherus Biosciences by 0.3% in the first quarter. Nationwide Fund Advisors now owns 33,982 shares of the biotechnology company's stock worth $719,000 after buying an additional 421 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Coherus Biosciences during the first quarter valued at about $319,000. TIAA CREF Investment Management LLC now owns 586,875 shares of the biotechnology company's stock worth $12,412,000 after buying an additional 308,332 shares during the period.

Yet another important factor while evaluating a good buy/sell decision for Coherus Biosciences, Inc. The Company is engaged in the business of developing and commercializing biosimilar products.

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