Analysts forecast that Coherus BioSciences, Inc. (NASDAQ:CHRS) will announce $83.32 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Coherus BioSciences’ earnings, with the lowest sales estimate coming in at $80.23 million and the highest estimate coming in at $86.40 million. Coherus BioSciences reported sales of $110.42 million during the same quarter last year, which would suggest a negative year over year growth rate of 24.5%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 23rd.
According to Zacks, analysts expect that Coherus BioSciences will report full year sales of $336.00 million for the current fiscal year, with estimates ranging from $333.41 million to $339.58 million. For the next fiscal year, analysts forecast that the firm will report sales of $348.15 million, with estimates ranging from $337.48 million to $355.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Coherus BioSciences.
Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings data on Sunday, November 7th. The biotechnology company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.12). Coherus BioSciences had a negative return on equity of 133.21% and a negative net margin of 63.72%. The business had revenue of $82.50 million during the quarter, compared to analysts’ expectations of $86.96 million. During the same quarter last year, the business posted $0.33 EPS.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Coherus BioSciences from a “sell” rating to a “hold” rating in a report on Tuesday. HC Wainwright decreased their target price on Coherus BioSciences from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, November 9th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $24.40.
Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Coherus BioSciences by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 814,371 shares of the biotechnology company’s stock valued at $13,086,000 after buying an additional 23,272 shares in the last quarter. Suvretta Capital Management LLC bought a new position in Coherus BioSciences during the 3rd quarter valued at approximately $7,864,000. Phocas Financial Corp. increased its position in Coherus BioSciences by 100.9% during the 3rd quarter. Phocas Financial Corp. now owns 504,936 shares of the biotechnology company’s stock valued at $8,114,000 after buying an additional 253,578 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Coherus BioSciences by 157.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 61,179 shares of the biotechnology company’s stock valued at $983,000 after buying an additional 37,421 shares in the last quarter. Finally, TownSquare Capital LLC increased its position in Coherus BioSciences by 85.2% during the 3rd quarter. TownSquare Capital LLC now owns 27,286 shares of the biotechnology company’s stock valued at $438,000 after buying an additional 12,553 shares in the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.
NASDAQ CHRS opened at $13.90 on Friday. Coherus BioSciences has a fifty-two week low of $12.21 and a fifty-two week high of $22.22. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.98 and a current ratio of 2.10. The stock has a 50 day simple moving average of $17.23 and a two-hundred day simple moving average of $15.97. The stock has a market cap of $1.07 billion, a P/E ratio of -4.43 and a beta of 0.92.
About Coherus BioSciences
Coherus BioSciences, Inc is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of biosimilar therapeutics. Its products include UDENYCA and Coherus COMPLETE. The company was founded by Dennis M. Lanfear, Stuart E. Builder, Dr. Alan Herman, Doug Farrar and Steve Glover in September 2010 and is headquartered in Redwood City, CA.
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