Robert W. Baird Forecasts Strong Price Appreciation for Coherus BioSciences (NASDAQ:CHRS) Stock

Coherus BioSciences (NASDAQ:CHRS) had its price target raised by analysts at Robert W. Baird from $4.00 to $6.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 252.94% from the company’s current price.

Other analysts have also recently issued reports about the stock. UBS Group cut shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $4.00 to $1.50 in a research note on Friday, August 16th. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Coherus BioSciences in a report on Wednesday. Finally, StockNews.com lowered shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.38.

Coherus BioSciences Stock Up 12.6 %

Shares of NASDAQ:CHRS opened at $1.70 on Thursday. Coherus BioSciences has a 52-week low of $0.66 and a 52-week high of $3.70. The stock has a market cap of $195.86 million, a price-to-earnings ratio of -21.25 and a beta of 0.86. The business has a 50-day moving average price of $0.99 and a 200-day moving average price of $1.32.

Hedge Funds Weigh In On Coherus BioSciences

Large investors have recently made changes to their positions in the company. Systematic Financial Management LP purchased a new position in Coherus BioSciences in the third quarter valued at $28,000. Nisa Investment Advisors LLC boosted its stake in shares of Coherus BioSciences by 2,672.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 19,912 shares in the last quarter. TIAA Trust National Association acquired a new stake in shares of Coherus BioSciences during the 2nd quarter valued at about $47,000. Price T Rowe Associates Inc. MD increased its stake in shares of Coherus BioSciences by 32.7% in the 1st 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. Finally, Hsbc Holdings PLC raised its holdings in Coherus BioSciences by 10.6% in the 2nd quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock worth $179,000 after purchasing an additional 9,905 shares during the period. 72.82% of the stock is currently owned by institutional investors and hedge funds.

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.