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

Coherus BioSciences (NASDAQ:CHRS) had its price target cut by Robert W. Baird from $9.00 to $8.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

Several other research firms have also recently weighed in on CHRS. Truist Financial cut their price objective on shares of Coherus BioSciences from $8.00 to $7.00 and set a buy rating for the company in a research report on Monday, May 13th. HC Wainwright reaffirmed a buy rating and set a $12.00 price objective on shares of Coherus BioSciences in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $8.67.

Coherus BioSciences Stock Performance

Shares of Coherus BioSciences stock opened at $1.39 on Monday. The firm has a 50-day moving average of $1.88 and a 200-day moving average of $2.23. The stock has a market cap of $159.47 million, a PE ratio of -1.78 and a beta of 0.60. Coherus BioSciences has a 52-week low of $1.34 and a 52-week high of $5.47.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CHRS. Hsbc Holdings PLC raised its holdings in Coherus BioSciences by 90.9% in the 3rd quarter. Hsbc Holdings PLC now owns 83,329 shares of the biotechnology company’s stock valued at $313,000 after buying an additional 39,669 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in Coherus BioSciences during the 3rd quarter valued at approximately $66,000. ELCO Management Co. LLC acquired a new stake in Coherus BioSciences during the 3rd quarter valued at approximately $57,000. Laurion Capital Management LP acquired a new stake in Coherus BioSciences during the 3rd quarter valued at approximately $488,000. Finally, Bridge City Capital LLC increased its position in Coherus BioSciences by 66.2% during the 3rd quarter. Bridge City Capital LLC now owns 276,224 shares of the biotechnology company’s stock valued at $1,033,000 after purchasing an additional 110,048 shares during the period. 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.