Coherus BioSciences (NASDAQ:CHRS) Given New $8.00 Price Target at Robert W. Baird

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

Several other research analysts also recently weighed in on the company. HC Wainwright reiterated a buy rating and issued a $12.00 target price on shares of Coherus BioSciences in a research note on Friday, May 24th. Truist Financial lowered their price objective 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $8.67.

Coherus BioSciences Trading Down 6.9 %

CHRS stock opened at $1.61 on Monday. The business has a 50 day simple moving average of $1.90 and a 200-day simple moving average of $2.25. The company has a market capitalization of $184.72 million, a P/E ratio of -2.06 and a beta of 0.60. Coherus BioSciences has a twelve month low of $1.43 and a twelve month high of $5.47.

Coherus BioSciences (NASDAQ:CHRS) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.38) 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 analyst estimates of $102.00 million. During the same period last year, the firm earned ($0.89) earnings per share. Research analysts predict that Coherus BioSciences will post -1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Coherus BioSciences

Large investors have recently made changes to their positions in the stock. Hsbc Holdings PLC increased its holdings in Coherus BioSciences by 90.9% in the third 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 in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in Coherus BioSciences during the third quarter worth $66,000. ELCO Management Co. LLC acquired a new position in shares of Coherus BioSciences in the third quarter worth $57,000. Laurion Capital Management LP purchased a new stake in shares of Coherus BioSciences in the third quarter valued at $488,000. Finally, Bridge City Capital LLC boosted its stake in shares of Coherus BioSciences by 66.2% during the third quarter. Bridge City Capital LLC now owns 276,224 shares of the biotechnology company’s stock valued at $1,033,000 after acquiring an additional 110,048 shares during the last quarter. Hedge funds and other institutional investors 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.