Robert W. Baird Issues Pessimistic Forecast for Coherus BioSciences (NASDAQ:CHRS) Stock Price

Coherus BioSciences (NASDAQ:CHRS) had its price objective reduced by research analysts 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 objective would indicate a potential upside of 392.55% from the company’s current price.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Coherus BioSciences in a research note on Thursday. Finally, UBS Group cut Coherus BioSciences from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $4.00 to $1.50 in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coherus BioSciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.13.

Coherus BioSciences Trading Down 1.0 %

CHRS opened at $0.81 on Friday. The stock’s fifty day simple moving average is $1.01 and its 200 day simple moving average is $1.46. Coherus BioSciences has a 1-year low of $0.66 and a 1-year high of $3.70. The stock has a market cap of $93.56 million, a PE ratio of -2.05 and a beta of 0.69.

Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.10. The company had revenue of $64.98 million during the quarter, compared to the consensus estimate of $57.08 million. Equities analysts forecast that Coherus BioSciences will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On Coherus BioSciences

Several institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in Coherus BioSciences by 32.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 7,608 shares in the last quarter. Hsbc Holdings PLC increased its stake in Coherus BioSciences by 10.6% in the second quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock valued at $179,000 after acquiring an additional 9,905 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Coherus BioSciences by 6.8% during the second quarter. Los Angeles Capital Management LLC now owns 209,460 shares of the biotechnology company’s stock valued at $362,000 after purchasing an additional 13,250 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Coherus BioSciences by 2,672.8% during the second quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 19,912 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Coherus BioSciences during the 1st quarter worth $56,000. 72.82% of the stock is currently owned by institutional investors.

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.