Coherus BioSciences, Inc. (NASDAQ:CHRS) Expected to Announce Quarterly Sales of $71.08 Million

Wall Street analysts forecast that Coherus BioSciences, Inc. (NASDAQ:CHRSGet Rating) will announce sales of $71.08 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Coherus BioSciences’ earnings. The lowest sales estimate is $66.86 million and the highest is $75.30 million. Coherus BioSciences posted sales of $83.03 million in the same quarter last year, which suggests a negative year-over-year growth rate of 14.4%. The business is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Coherus BioSciences will report full year sales of $309.28 million for the current fiscal year, with estimates ranging from $295.65 million to $320.00 million. For the next year, analysts anticipate that the business will report sales of $451.31 million, with estimates ranging from $392.20 million to $546.74 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Coherus BioSciences.

Coherus BioSciences (NASDAQ:CHRSGet Rating) last released its quarterly earnings data on Thursday, February 17th. The biotechnology company reported ($0.60) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.01. Coherus BioSciences had a negative net margin of 87.92% and a negative return on equity of 224.13%. The firm had revenue of $73.37 million for the quarter, compared to the consensus estimate of $83.32 million. During the same quarter in the prior year, the company posted $0.12 earnings per share.

Several research firms have weighed in on CHRS. JPMorgan Chase & Co. downgraded shares of Coherus BioSciences from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $15.00 in a report on Monday, March 7th. Barclays reduced their target price on shares of Coherus BioSciences from $24.00 to $20.00 in a research note on Tuesday, February 22nd. StockNews.com began coverage on shares of Coherus BioSciences in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Mizuho reiterated a “buy” rating and issued a $30.00 target price on shares of Coherus BioSciences in a research note on Wednesday, March 23rd. Finally, Zacks Investment Research upgraded shares of Coherus BioSciences from a “sell” rating to a “hold” rating in a research note on Wednesday, April 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Coherus BioSciences has an average rating of “Buy” and an average price target of $23.40.

CHRS opened at $9.36 on Wednesday. The company has a current ratio of 3.64, a quick ratio of 3.42 and a debt-to-equity ratio of 4.18. The company’s fifty day moving average price is $11.90 and its two-hundred day moving average price is $14.60. Coherus BioSciences has a 1-year low of $9.31 and a 1-year high of $19.32. The company has a market cap of $723.81 million, a price-to-earnings ratio of -2.42 and a beta of 1.06.

A number of institutional investors and hedge funds have recently bought and sold shares of CHRS. Alliancebernstein L.P. grew its position in Coherus BioSciences by 24.4% during the fourth quarter. Alliancebernstein L.P. now owns 5,707,708 shares of the biotechnology company’s stock valued at $91,095,000 after buying an additional 1,117,972 shares during the period. Suvretta Capital Management LLC grew its position in Coherus BioSciences by 149.1% during the fourth quarter. Suvretta Capital Management LLC now owns 1,218,792 shares of the biotechnology company’s stock valued at $19,452,000 after buying an additional 729,459 shares during the period. Point72 Asset Management L.P. bought a new position in Coherus BioSciences during the fourth quarter valued at about $5,272,000. BlackRock Inc. grew its position in Coherus BioSciences by 2.8% during the fourth quarter. BlackRock Inc. now owns 11,918,855 shares of the biotechnology company’s stock valued at $190,226,000 after buying an additional 329,012 shares during the period. Finally, Phocas Financial Corp. grew its position in Coherus BioSciences by 100.9% during the third 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 during the period. Institutional investors own 97.01% of the company’s stock.

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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