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

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

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

Coherus BioSciences Stock Performance

Shares of CHRS stock opened at $1.39 on Monday. The company’s 50-day moving average price is $1.86 and its 200-day moving average price is $2.23. The stock has a market cap of $159.47 million, a price-to-earnings ratio of -1.78 and a beta of 0.60. Coherus BioSciences has a twelve month low of $1.34 and a twelve month high of $5.47.

Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly 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 firm had revenue of $77.06 million for the quarter, compared to analysts’ expectations of $102.00 million. During the same quarter last year, the firm posted ($0.89) earnings per share. As a group, equities research analysts predict that Coherus BioSciences will post -1.14 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CHRS. TrinityPoint Wealth LLC acquired a new stake in shares of Coherus BioSciences during the fourth quarter worth about $40,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Coherus BioSciences by 430.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,880 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 10,454 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of Coherus BioSciences during the fourth quarter worth about $47,000. Vontobel Holding Ltd. acquired a new stake in shares of Coherus BioSciences during the fourth quarter worth about $50,000. Finally, ELCO Management Co. LLC acquired a new stake in shares of Coherus BioSciences during the third quarter worth about $57,000. 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.