Robert W. Baird Boosts Coherus BioSciences (NASDAQ:CHRS) Price Target to $6.00

Coherus BioSciences (NASDAQ:CHRS) had its target price upped by equities researchers at Robert W. Baird from $4.00 to $6.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 250.88% from the stock’s current price.

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

Coherus BioSciences Price Performance

CHRS opened at $1.71 on Thursday. The firm has a market capitalization of $197.01 million, a P/E ratio of -21.38 and a beta of 0.86. The stock’s 50 day moving average price is $0.96 and its two-hundred day moving average price is $1.32. Coherus BioSciences has a 12-month low of $0.66 and a 12-month high of $3.70.

Institutional Trading of Coherus BioSciences

Several institutional investors have recently bought and sold shares of the stock. 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 valued at $74,000 after buying an additional 7,608 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Coherus BioSciences by 10.6% in the 2nd quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock valued at $179,000 after buying an additional 9,905 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Coherus BioSciences by 6.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 209,460 shares of the biotechnology company’s stock valued at $362,000 after buying an additional 13,250 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Coherus BioSciences by 2,672.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 19,912 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Coherus BioSciences by 19.5% in the 2nd quarter. Rhumbline Advisers now owns 154,904 shares of the biotechnology company’s stock valued at $268,000 after buying an additional 25,241 shares in the last quarter. 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.