Robert W. Baird Lowers Coherus BioSciences (NASDAQ:CHRS) Price Target to $4.00

Coherus BioSciences (NASDAQ:CHRS) had its target price dropped by equities researchers at Robert W. Baird from $8.00 to $4.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s target price suggests a potential upside of 392.55% from the stock’s previous close.

Several other equities analysts also recently issued reports on CHRS. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Coherus BioSciences in a research note on Thursday. StockNews.com downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Finally, UBS Group cut Coherus BioSciences from a “buy” rating to a “neutral” rating and decreased their price target for the company from $4.00 to $1.50 in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $6.13.

Coherus BioSciences Stock Down 1.0 %

Shares of CHRS opened at $0.81 on Friday. The business has a 50-day simple moving average of $1.01 and a two-hundred day simple moving average of $1.46. Coherus BioSciences has a 12-month low of $0.66 and a 12-month high of $3.70. The stock has a market cap of $93.56 million, a PE ratio of -2.05 and a beta of 0.69.

Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.10. The business had revenue of $64.98 million during the quarter, compared to the consensus estimate of $57.08 million. On average, equities research analysts expect that Coherus BioSciences will post -1.16 EPS for the current year.

Institutional Trading of Coherus BioSciences

A number of large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Coherus BioSciences by 32.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 7,608 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Coherus BioSciences by 10.6% in the second quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock valued at $179,000 after buying an additional 9,905 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Coherus BioSciences by 6.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 209,460 shares of the biotechnology company’s stock worth $362,000 after buying an additional 13,250 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Coherus BioSciences by 2,672.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 19,912 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Coherus BioSciences during the 1st quarter valued at $56,000. 72.82% of the stock is currently owned by institutional investors and hedge funds.

About Coherus BioSciences

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of cancer treatments primarily in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; LOQTORZI, a novel PD-1 inhibitor; and Casdozokitug, an investigational recombinant human immunoglobulin isotype G1 (IgG1) monoclonal antibody targeting interleukin 27.