Revenue Update on Coherus Biosciences Inc(NASDAQ:CHRS)

Coherus Biosciences Inc(NASDAQ:CHRS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $14.07M. Analysts estimated a revenue of $30.00M. Earnings per share were $-1.72. Analysts had estimated an EPS of $-1.32.

In a different note, Citigroup said it Initiates Coverage on Coherus Biosciences Inc, according to a research note issued on Jul 27, 2016. The shares have been rated ‘Buy’ by the firm.

Coherus Biosciences Inc (CHRS) made into the market gainers list on Wednesdays trading session with the shares advancing 1.89% or 0.55 points. Due to strong positive momentum, the stock ended at $29.71, which is also near the day’s high of $29.82. The stock began the session at $29.19 and the volume stood at 2,19,809 shares. The 52-week high of the shares is $34.31 and the 52 week low is $12.04. The company has a current market capitalization of $1,289 M and it has 4,33,80,827 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Aug 3, 2016, Alan C. Herman (Chief Scientific Officer) sold 11,333 shares at $25.54 per share price.Also, On Jul 25, 2016, Peter K. Watler (Chief Technical Officer) sold 3,991 shares at $26.27 per share price.On May 26, 2016, Mats Wahlstrom (director) sold 6,372 shares at $33.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Coherus BioSciences Inc. is a late-stage clinical biologics platform company focused on the global biosimilar market. The Company’s clinical-stage pipeline consists of two anti-inflammatory agents targeting tumor necrosis factor (TNF) and a long-acting form of granulocyte colony-stimulating factor (G-CSF). The Company’s product pipeline includes anti-TNF product candidate CHS-0214 an etanercept (Enbrel) biosimilar candidate which is in Phase III clinical trials and anti-TNF product candidate CHS-1420 an adalimumab (Humira) biosimilar candidate which is in Phase III clinical trials. The Company also offers G-CSF product candidate CHS-1701 a pegfilgrastim (Neulasta) biosimilar which has completed a Phase I study.

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