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

Coherus BioSciences (NASDAQ:CHRS) had its price objective trimmed by Robert W. Baird from $9.00 to $8.00 in a research note published on Monday, Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

Several other equities analysts have also recently commented on CHRS. Truist Financial cut 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 reiterated a buy rating and set a $12.00 target price on shares of Coherus BioSciences in a research note on Friday, May 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $8.67.

Coherus BioSciences Stock Performance

NASDAQ CHRS opened at $1.39 on Monday. The company has a fifty day simple moving average of $1.88 and a 200 day simple moving average of $2.23. The company has a market cap of $159.47 million, a P/E ratio of -1.78 and a beta of 0.60. Coherus BioSciences has a 1 year low of $1.34 and a 1 year high of $5.47.

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

Hedge Funds Weigh In On Coherus BioSciences

Hedge funds have recently made changes to their positions in the business. TrinityPoint Wealth LLC acquired a new position in shares of Coherus BioSciences in the 4th quarter valued at $40,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Coherus BioSciences by 430.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,880 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 10,454 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of Coherus BioSciences in the 4th quarter valued at $47,000. Vontobel Holding Ltd. acquired a new position in shares of Coherus BioSciences in the 4th quarter valued at $50,000. Finally, ELCO Management Co. LLC acquired a new position in shares of Coherus BioSciences in the 3rd quarter valued at $57,000. Institutional investors and hedge funds own 72.82% of the company’s stock.

Coherus BioSciences Company Profile

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.