Why Coherus BioSciences Was Plummeting This Week
A disappointing quarter combined with a set of analyst price target cuts -- and even a recommendation downgrade -- made Coherus BioSciences (NASDAQ: CHRS) a stock to avoid this week. As of mid-afternoon Friday, according to data compiled by S&P Global Market Intelligence, the healthcare company's share price had fallen by a steep 56% week to date.
On Monday after market close, Coherus unveiled a set of third-quarter results that, despite a double-digit revenue increase, missed analyst estimates. It also cut full-year guidance for critical line items such as product revenue and research and development. Investors weren't willing to look on the bright side (at that top-line improvement, for one thing), and they aggressively sold out of the stock.
As if that weren't damaging enough, analysts were quick to get notably more bearish on the company's prospects.
Source Fool.com
Coherus Bioscien. Stock
Based on 2 Buy predictions and 2 Sell predictions the sentiment towards Coherus Bioscien. is rather balanced.
As a result the target price of 3 € shows a very positive potential of 53.45% compared to the current price of 1.96 € for Coherus Bioscien..
