Coherus BioSciences, Inc. (NASDAQ:CHRS) Expected to Post Quarterly Sales of $56.08 Million

Equities analysts expect Coherus BioSciences, Inc. (NASDAQ:CHRSGet Rating) to announce $56.08 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Coherus BioSciences’ earnings. The lowest sales estimate is $54.97 million and the highest is $57.19 million. Coherus BioSciences reported sales of $87.64 million in the same quarter last year, which indicates a negative year-over-year growth rate of 36%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Coherus BioSciences will report full year sales of $253.37 million for the current fiscal year, with estimates ranging from $244.55 million to $270.00 million. For the next year, analysts forecast that the company will report sales of $406.10 million, with estimates ranging from $360.00 million to $472.63 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Coherus BioSciences.

Coherus BioSciences (NASDAQ:CHRSGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.44). The company had revenue of $60.12 million for the quarter, compared to analysts’ expectations of $68.07 million. Coherus BioSciences had a negative net margin of 69.24% and a negative return on equity of 211.68%.

A number of analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Coherus BioSciences from $20.00 to $15.00 in a research report on Monday, May 9th. StockNews.com assumed coverage on shares of Coherus BioSciences in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Mizuho reduced their target price on shares of Coherus BioSciences from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, May 20th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Coherus BioSciences in a research report on Tuesday, May 3rd. Finally, JPMorgan Chase & Co. downgraded shares of Coherus BioSciences from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $15.00 in a research report on Monday, March 7th. One 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. Based on data from MarketBeat, Coherus BioSciences currently has a consensus rating of “Hold” and a consensus price target of $21.40.

Shares of Coherus BioSciences stock opened at $7.73 on Wednesday. The company has a debt-to-equity ratio of 33.47, a current ratio of 3.33 and a quick ratio of 3.09. The company’s fifty day simple moving average is $9.47 and its two-hundred day simple moving average is $12.62. Coherus BioSciences has a 12-month low of $7.01 and a 12-month high of $19.32.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Coherus BioSciences by 1.3% during the 1st quarter. BlackRock Inc. now owns 12,072,187 shares of the biotechnology company’s stock valued at $155,851,000 after purchasing an additional 153,332 shares during the last quarter. Alliancebernstein L.P. grew its position in Coherus BioSciences by 24.4% during the 4th quarter. Alliancebernstein L.P. now owns 5,707,708 shares of the biotechnology company’s stock valued at $91,095,000 after purchasing an additional 1,117,972 shares during the last quarter. State Street Corp grew its position in Coherus BioSciences by 35.1% during the 1st quarter. State Street Corp now owns 5,164,152 shares of the biotechnology company’s stock valued at $66,669,000 after purchasing an additional 1,343,032 shares during the last quarter. Vanguard Group Inc. grew its position in Coherus BioSciences by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 4,737,101 shares of the biotechnology company’s stock valued at $61,156,000 after purchasing an additional 189,572 shares during the last quarter. Finally, Suvretta Capital Management LLC lifted its stake in Coherus BioSciences by 149.1% during the 4th quarter. Suvretta Capital Management LLC now owns 1,218,792 shares of the biotechnology company’s stock valued at $19,452,000 after acquiring an additional 729,459 shares during the period. 97.85% of the stock is currently owned by institutional investors.

Coherus BioSciences Company Profile (Get Rating)

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the biosimilar and immuno-oncology market primarily in the United States. The company markets UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte stimulating colony factor in the United States. Its pipeline products include biosimilars of Humira, Avastin, and Lucentis.

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