Analysts Anticipate Coherus Biosciences Inc (CHRS) to Announce -$0.79 EPS

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Equities research analysts predict that Coherus Biosciences Inc (NASDAQ:CHRS) will announce ($0.79) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Coherus Biosciences’ earnings, with the lowest EPS estimate coming in at ($0.82) and the highest estimate coming in at ($0.77). Coherus Biosciences reported earnings per share of ($1.09) in the same quarter last year, which would indicate a positive year over year growth rate of 27.5%. The company is expected to issue its next quarterly earnings results on Monday, November 5th.

On average, analysts expect that Coherus Biosciences will report full year earnings of ($3.03) per share for the current year, with EPS estimates ranging from ($3.07) to ($3.00). For the next financial year, analysts forecast that the firm will report earnings of ($1.22) per share, with EPS estimates ranging from ($2.04) to $0.15. Zacks’ EPS averages are a mean average based on a survey of research firms that follow Coherus Biosciences.

Coherus Biosciences (NASDAQ:CHRS) last posted its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.68) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.64) by ($0.04).

A number of equities analysts have weighed in on CHRS shares. ValuEngine raised shares of Coherus Biosciences from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. BidaskClub lowered shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. HC Wainwright started coverage on shares of Coherus Biosciences in a report on Tuesday, August 28th. They set a “buy” rating and a $28.00 target price for the company. Maxim Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Coherus Biosciences in a report on Tuesday, September 25th. Finally, Zacks Investment Research lowered shares of Coherus Biosciences from a “hold” rating to a “sell” rating in a report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $23.75.

In other news, insider Barbara K. Finck sold 1,760 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $18.58, for a total transaction of $32,700.80. Following the completion of the sale, the insider now owns 38,803 shares of the company’s stock, valued at $720,959.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jean-Frederic Viret sold 9,291 shares of the company’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $18.56, for a total transaction of $172,440.96. The disclosure for this sale can be found here. Insiders have sold 37,811 shares of company stock valued at $751,117 in the last ninety days. Insiders own 19.57% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in shares of Coherus Biosciences by 18.7% during the second quarter. Northern Trust Corp now owns 566,700 shares of the biotechnology company’s stock worth $7,934,000 after buying an additional 89,400 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Coherus Biosciences by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 186,287 shares of the biotechnology company’s stock valued at $2,608,000 after purchasing an additional 9,299 shares during the period. Orbimed Advisors LLC grew its holdings in shares of Coherus Biosciences by 0.9% in the second quarter. Orbimed Advisors LLC now owns 1,480,482 shares of the biotechnology company’s stock valued at $20,727,000 after purchasing an additional 13,682 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Coherus Biosciences in the second quarter valued at about $118,000. Finally, Marshall Wace LLP purchased a new stake in shares of Coherus Biosciences in the second quarter valued at about $369,000. 91.31% of the stock is owned by institutional investors and hedge funds.

NASDAQ:CHRS opened at $13.33 on Wednesday. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 1.66. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -2.98 and a beta of 3.67. Coherus Biosciences has a fifty-two week low of $8.05 and a fifty-two week high of $20.66.

Coherus Biosciences Company Profile

Coherus BioSciences, Inc, a biosimilar company, develops and commercializes various therapeutic products worldwide. The company engages in the development of late-stage clinical products, including CHS-1701 pegfilgrastim biosimilar, a granulocyte colony-stimulating factor product candidate; CHS-1420 adalimumab biosimilar, an anti-tumor necrosis factor product candidate; and CHS-0214, an etanercept biosimilar for rheumatoid arthritis and psoriasis.

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