Coherus BioSciences (NASDAQ:CHRS) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Coherus BioSciences (NASDAQ:CHRS) had its target price lifted by stock analysts at Robert W. Baird from $4.00 to $6.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price objective points to a potential upside of 252.94% from the stock’s previous close.

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

Coherus BioSciences Trading Up 12.6 %

CHRS opened at $1.70 on Thursday. The company has a market capitalization of $195.86 million, a price-to-earnings ratio of -21.25 and a beta of 0.86. Coherus BioSciences has a 12-month low of $0.66 and a 12-month high of $3.70. The business’s fifty day simple moving average is $0.99 and its 200-day simple moving average is $1.32.

Hedge Funds Weigh In On Coherus BioSciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. Systematic Financial Management LP acquired a new stake in shares of Coherus BioSciences in the 3rd quarter worth $28,000. Nisa Investment Advisors LLC grew its stake in shares of 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 acquiring an additional 19,912 shares during the last quarter. TIAA Trust National Association purchased a new position in shares of Coherus BioSciences in the 2nd quarter valued at approximately $47,000. Price T Rowe Associates Inc. MD boosted its stake in 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 worth $74,000 after purchasing an additional 7,608 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in Coherus BioSciences by 10.6% during 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 last quarter. 72.82% of the stock is owned by hedge funds and other institutional investors.

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.