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Coherus Biosciences Inc (CHRS) Receives $40.50 Average PT from Analysts
19 May 2017, 11:23 | Jan Cross
Why This Humira Patent Loss Might Not Be What You Think
Heading into the stock price potential, Coherus Biosciences, Inc. needs to grow just 68.07% to cross its median price target of $40. The brokerage now has a buy rating on the biotechnology company's stock.
Other research analysts have also issued research reports about the company. BMO Capital Markets began coverage on Coherus Biosciences in a report on Friday, May 5th. Zacks Investment Research lowered Coherus Biosciences from a "buy" rating to a "hold" rating in a report on Thursday, February 16th. 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. Finally, Maxim Group reaffirmed a "buy" rating and set a $43.00 target price on shares of Coherus Biosciences in a report on Tuesday, March 14th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. BMO Capital Markets now has a $54.00 price objective on the biotechnology company's stock. Shares of Coherus Biosciences (NASDAQ:CHRS) traded down 1.007% on Monday, reaching $22.125. The stock price recently experienced a 5-day gain of 11.21% with 1.19 average true range (ATR). The mean rating score for this stock is at 1.80. For the past month, Coherus Biosciences, Inc.'s stock has been 31.37%, 6.52% for the last quarter, -14.04% for the past six months and 25.71% for the past 52 weeks.
Coherus Biosciences (NASDAQ:CHRS) last announced its quarterly earnings results on Monday, May 8th. Analysts are forecasting earnings of $-1.4 on a per share basis this quarter. The firm had revenue of $0.16 million during the quarter. In our current pick, Coherus Biosciences, Inc. If you are accessing this news story on another website, it was stolen and reposted in violation of USA & worldwide trademark and copyright legislation. The original version of this news story can be read at https://transcriptdaily.com/2017/05/19/coherus-biosciences-inc-chrs-pt-set-at-38-00-by-citigroup-inc.html.
Candriam Luxembourg S.C.A. purchased a new stake in shares of Coherus Biosciences during the third quarter valued at $5,115,000. The stock closing price is now trading upward to its 50 day moving average with change of 14.09%, escalated to its 20 day moving average with figure of 18.17% and behind its 200 day moving average with value -8.59%. Following the transaction, the insider now owns 90,452 shares in the company, valued at $1,875,069.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. The company's stock had a trading volume of 330,948 shares.
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Russia's deputy foreign minister Gennady Gatilov added to the condemnation, calling the strike "a breach of Syrian sovereignty". A road between Iraq and Syria would facilitate the flow of assistance from Iran , which is a strong backer of Assad.
Several institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System now owns 14,589 shares of the biotechnology company's stock valued at $411,000 after buying an additional 130 shares during the period. BlueCrest Capital Management Ltd bought a new position in shares of Coherus Biosciences during the first quarter worth about $246,000. FMR LLC boosted its position in shares of Coherus Biosciences by 17.2% in the first quarter. Endurant Capital Management LP acquired a new position in shares of Coherus Biosciences during the third quarter valued at about $225,000. The company's stock had a trading volume of 321,424 shares. BlackRock Fund Advisors now owns 1,389,802 shares of the biotechnology company's stock worth $37,219,000 after buying an additional 121,067 shares in the last quarter.
Yet another important factor while evaluating a good buy/sell decision for Coherus Biosciences, Inc.
To be clear, the hurdle for any biosimilar company to launch a biosimilar-Humira by 2019 is still high, and given AbbVie's extensive patent estate extending into the 2030's, any biosimilar challenger must be willing to undertake an at-risk launch until further patents are invalidated through the IPR process or the Federal Circuit Courts.
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