Robert W. Baird Lowers Coherus BioSciences (NASDAQ:CHRS) Price Target to $8.00

Coherus BioSciences (NASDAQ:CHRS) had its target price reduced by equities researchers at Robert W. Baird from $9.00 to $8.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 475.54% from the company’s previous close.

CHRS has been the subject of several other research reports. Truist Financial lowered their target price on shares of Coherus BioSciences from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, May 13th. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Coherus BioSciences in a report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coherus BioSciences currently has an average rating of “Moderate Buy” and an average target price of $8.67.

Coherus BioSciences Price Performance

CHRS stock opened at $1.39 on Monday. Coherus BioSciences has a 1-year low of $1.37 and a 1-year high of $5.47. The firm has a fifty day moving average price of $1.89 and a two-hundred day moving average price of $2.24. The firm has a market cap of $159.47 million, a price-to-earnings ratio of -1.78 and a beta of 0.60.

Coherus BioSciences (NASDAQ:CHRS) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.33). The business had revenue of $77.06 million for the quarter, compared to analysts’ expectations of $102.00 million. During the same period last year, the firm posted ($0.89) EPS. As a group, analysts expect that Coherus BioSciences will post -1.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Coherus BioSciences

Institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its holdings in Coherus BioSciences by 90.9% in the third quarter. Hsbc Holdings PLC now owns 83,329 shares of the biotechnology company’s stock worth $313,000 after purchasing an additional 39,669 shares during the period. Vanguard Group Inc. lifted its holdings in Coherus BioSciences by 10.5% in the third quarter. Vanguard Group Inc. now owns 9,782,127 shares of the biotechnology company’s stock worth $36,585,000 after purchasing an additional 932,476 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Coherus BioSciences by 82.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 136,820 shares of the biotechnology company’s stock worth $456,000 after purchasing an additional 61,722 shares during the period. Nomura Holdings Inc. lifted its holdings in Coherus BioSciences by 225.1% in the fourth quarter. Nomura Holdings Inc. now owns 68,300 shares of the biotechnology company’s stock worth $227,000 after purchasing an additional 47,290 shares during the period. Finally, Birchview Capital LP acquired a new stake in Coherus BioSciences in the fourth quarter worth about $366,000. Institutional investors and hedge funds own 72.82% of the company’s stock.

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.