Coherus BioSciences (NASDAQ:CHRS) Price Target Cut to $4.00 by Analysts at Robert W. Baird

Coherus BioSciences (NASDAQ:CHRS) had its price target dropped by equities researchers at Robert W. Baird from $8.00 to $4.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 390.80% from the stock’s current price.

A number of other brokerages have also recently weighed in on CHRS. UBS Group cut shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and reduced their price target for the company from $4.00 to $1.50 in a research report on Friday, August 16th. StockNews.com lowered shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Coherus BioSciences in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.13.

Coherus BioSciences Stock Down 0.6 %

Shares of CHRS opened at $0.82 on Friday. Coherus BioSciences has a fifty-two week low of $0.66 and a fifty-two week high of $3.70. The company’s fifty day moving average is $1.00 and its two-hundred day moving average is $1.45. The firm has a market cap of $93.90 million, a PE ratio of -10.19 and a beta of 0.69.

Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.10. The firm had revenue of $64.98 million during the quarter, compared to analyst estimates of $57.08 million. As a group, equities research analysts anticipate that Coherus BioSciences will post -1.16 earnings per share for the current year.

Institutional Trading of Coherus BioSciences

A number of hedge funds have recently made changes to their positions in CHRS. CM Management LLC grew its holdings in Coherus BioSciences by 10.0% during the 2nd quarter. CM Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $1,903,000 after purchasing an additional 100,000 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Coherus BioSciences by 344.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 930,132 shares of the biotechnology company’s stock valued at $967,000 after buying an additional 720,672 shares during the last quarter. AQR Capital Management LLC purchased a new position in Coherus BioSciences in the 2nd quarter valued at about $1,246,000. Marshall Wace LLP grew its stake in shares of Coherus BioSciences by 177.3% during the second quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock valued at $727,000 after acquiring an additional 268,763 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Coherus BioSciences by 159.2% during the second quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock worth $683,000 after acquiring an additional 242,500 shares during the last quarter. Hedge funds and other institutional investors 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.