Price Don’t Lie: Does Coherus Biosciences Inc Have Any Gas After Today’s Big Decline?

Price Don't Lie: Does Coherus Biosciences Inc Have Any Gas After Today's Big Decline?

The stock of Coherus Biosciences Inc (NASDAQ:CHRS) is a huge mover today! About 668,159 shares traded hands or 54.94% up from the average. Coherus Biosciences Inc (NASDAQ:CHRS) has risen 7.34% since April 6, 2016 and is uptrending. It has outperformed by 5.38% the S&P500.
The move comes after 7 months negative chart setup for the $938.94M company. It was reported on Nov, 8 by Barchart.com. We have $21.90 PT which if reached, will make NASDAQ:CHRS worth $75.12M less.

Analysts await Coherus Biosciences Inc (NASDAQ:CHRS) to report earnings on November, 14. They expect $-1.71 EPS, up 8.06% or $0.15 from last year’s $-1.86 per share. After $-1.72 actual EPS reported by Coherus Biosciences Inc for the previous quarter, Wall Street now forecasts -0.58% EPS growth.

Coherus Biosciences Inc (NASDAQ:CHRS) Ratings Coverage

Out of 6 analysts covering Coherus Biosciences (NASDAQ:CHRS), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. Coherus Biosciences has been the topic of 6 analyst reports since September 3, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Zacks on Thursday, September 3. Barclays Capital initiated Coherus Biosciences Inc (NASDAQ:CHRS) rating on Monday, November 23. Barclays Capital has “Overweight” rating and $46 price target. Credit Suisse initiated Coherus Biosciences Inc (NASDAQ:CHRS) on Wednesday, January 20 with “Outperform” rating. The stock of Coherus Biosciences Inc (NASDAQ:CHRS) has “Outperform” rating given on Wednesday, October 19 by Robert W. Baird. The rating was initiated by Maxim Group with “Buy” on Wednesday, September 7. Citigroup initiated the shares of CHRS in a report on Wednesday, July 27 with “Buy” rating.

According to Zacks Investment Research, “Coherus Biosciences, Inc. is a biologics platform company developing biosimilar therapeutics. Its clinical stage pipeline consists of CHS-0214 in two Phase III clinical trials for the treatment of rheumatoid arthritis and psoriasis; CHS-1420 that has completed a Phase I study to treat psoriasis or rheumatoid arthritis; and CHS-1701 which has completed a Phase I study for the treatment of breast cancer patients. Coherus Biosciences, Inc. is headquartered in Redwood City, California.”

Insitutional Activity: The institutional sentiment increased to 3.32 in 2016 Q2. Its up 1.99, from 1.33 in 2016Q1. The ratio increased, as 10 funds sold all Coherus Biosciences Inc shares owned while 9 reduced positions. 22 funds bought stakes while 41 increased positions. They now own 49.39 million shares or 180.37% more from 17.62 million shares in 2016Q1.
The Pennsylvania-based Turner Invests Limited Partnership has invested 0.64% in Coherus Biosciences Inc (NASDAQ:CHRS). Birchview Capital Limited Partnership last reported 7,500 shares in the company. California State Teachers Retirement Sys holds 0% of its portfolio in Coherus Biosciences Inc (NASDAQ:CHRS) for 61,840 shares. Lombard Odier Asset Mngmt (Switzerland) Sa has 109,664 shares for 0.25% of their US portfolio. The New York-based Bank Of New York Mellon has invested 0% in Coherus Biosciences Inc (NASDAQ:CHRS). The Illinois-based Citadel Ltd Com has invested 0.01% in Coherus Biosciences Inc (NASDAQ:CHRS). Moreover, Schwab Charles Inv has 0% invested in Coherus Biosciences Inc (NASDAQ:CHRS) for 106,337 shares. Trexquant Invest L P holds 0.04% of its portfolio in Coherus Biosciences Inc (NASDAQ:CHRS) for 20,039 shares. Blackrock Group reported 10,181 shares or 0% of all its holdings. Strs Ohio, a Ohio-based fund reported 600 shares. Morgan Stanley owns 1,932 shares or 0% of their US portfolio. Springbok Management Ltd has 2,900 shares for 0.01% of their US portfolio. Wfg Advsr Limited Partnership holds 0.01% of its portfolio in Coherus Biosciences Inc (NASDAQ:CHRS) for 1,800 shares. The New York-based Iguana Health Mgmt Ltd Liability Corp has invested 0.52% in Coherus Biosciences Inc (NASDAQ:CHRS). Oxford Asset Mgmt has 43,157 shares for 0.03% of their US portfolio.

More notable recent Coherus Biosciences Inc (NASDAQ:CHRS) news were published by: Fool.com which released: “Why Coherus BioSciences, Inc. Is Dropping Today” on November 07, 2016, also Globenewswire.com with their article: “Coherus BioSciences Receives Decision Denying Institution of the ‘166 IPR …” published on November 07, 2016, Globenewswire.com published: “Coherus BioSciences Announces FDA Acceptance of 351(k) Biologics License …” on October 06, 2016. More interesting news about Coherus Biosciences Inc (NASDAQ:CHRS) were released by: Globenewswire.com and their article: “Coherus BioSciences to Report Third Quarter 2016 Financial Results on November 9th” published on November 01, 2016 as well as Globenewswire.com‘s news article titled: “Coherus BioSciences Appoints Patrick O’Brien as Senior Vice President …” with publication date: May 16, 2016.

CHRS Company Profile

Coherus BioSciences, Inc., incorporated on September 29, 2010, is a late-stage clinical biologics platform company. The Firm is focused on the global biosimilar market. The Firm operates through developing and commercializing biosimilar products segment. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta), in late clinical-stage, and bevacizumab (Avastin), in preclinical-stage; Immunology (Anti-TNF) biosimilar candidates, etanercept (Enbrel) and adalimumab (Humira), which are both in late clinical-stage; Ophthalmology biosimilar candidate ranibizumab (Lucentis) in preclinical stage, and Multiple sclerosis small molecule therapeutic candidate, CHS-131 (formerly INT-131), in Phase II proof-of-concept trial.

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